In this high risk article we try provide guidance on those industry advances expected in Africa in 2020. (We also “mark our homework” on our bets for 2019). We hope that you, as reader, gain strategic advantage in our attempts at commercial real estate industry “crystal balling”!
“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.