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April 25, 2008

GOVERNMENT PROPERTY PORTFOLIO - Sitting on a gold mine

The department of public works' new property management strategy has shed some light on the spread and weight of the state-owned property portfolio - information that has eluded the market for some time.

Seven years ago, the department valued its property portfolio at an estimated R120bn, but subsequently requested an audit to get a clearer picture of its assets. A new property management strategy document, discussed at a recent departmental indaba, placed leasing deals with private landlords at about R1,3bn in the 2006/2007 financial year.

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Posted by StaffWriter at April 25, 2008 7:51 AM