“Evil prevails when good men stand by and do nothing”. Here is our attempt, for CRE industry outsiders in South Africa, at “pulling back the veil” on our industry. The more informed you as customer are, the easier it is to identify and work with ethical and honourable CRE professionals. Excellent service from skilled, passionate CRE professionals means better outcomes for you, and boosts your perception of our industry.
“If we have data, let’s look at data. If all we have are opinions, let’s go with mine”
Jim Barksdale, CEO of Netscape
As we know, data is the oil that the commercial real estate (CRE) industry runs on. Sandton’s office vacancy numbers are wide-varying, and these different opinions are a source of industry inefficiency. President Ramaphosa’s Thuma Mina speech spoke to us here – now over one long year of hard work later, we can “lend a hand”.
In summary: Sandton may be more vacant than people assume…
The good news: the fundamentals for Sandton, one of the jewels in South Africa’s CRE crown, are strong. The city improvement district is well-functioning, and rail transport is a large positive. Further, few major office supply-adding developments are planned, and hotel and residential projects to densify the node are afoot, bringing the pillows of workers nearer. This is all good for office demand over the medium to long term.