KwaZulu-Natal Public Works and Infrastructure MEC Martin Meyer (right), with his department acting head Dr Vish Govender, outlined the objective of the upcoming conference. Picture: Supplied
With student accommodation’s demand growing rapidly in and around eThekwini, KwaZulu-Natal Public Works and Infrastructure Martin Meyer has called on the financial institutions to assist the previously disadvantaged businesses to acquire or lease buildings that his department will soon release for private use.
Outlining objectives for the upcoming property conference which will take place next week, the MEC said the conference did not only invite property industry players but also extended the invitation to financial institutions because he wants them to give him their plans on how they can assist the previously disadvantaged businesses to get into the market.
He said when he came to office, he issued a directive to have a clearer picture of the government asset registry, saying the goal here was to get a better understanding of how much the government owns and, as the biggest ratepayer, ascertain whether those assets are being utilised as intended.
The MEC said unfortunately, not all the buildings are being put to intended use which has given rise to the hijacking of buildings, illegal occupations, structural deterioration and the use of buildings as crime and drug dens.
“The result of all this is that, among other outcomes, business confidence and appetite has severely been affected with other businesses opting to close shop and go elsewhere.”
Meyer said the asset audit revealed that the provincial government has a total of 10 067 assets which include buildings and parcels of land, however, to date only 43% has been physically verified.
Out of the identified assets, the MEC said 92.34% are fully utilised while 5.54% is unutilised, and 2.12% are underutilised.
He said his department intends to dispose of unutilised or underutilised assets for private use so it was very important to ensure that the previously disadvantaged people also benefit from that decision.
The MEC said other objectives are to provide a platform for industry professionals to network and exchange insights and showcase the latest trends and innovations in property management.
● Offer educational sessions on best practices and regulatory compliance.
● Educate stakeholders on the extent and impact of neglected buildings in KwaZulu-Natal, highlighting opportunities for urban regeneration.
● Foster collaboration among property managers, government officials, developers, and community organisations to develop actionable solutions.
● Present creative solutions for repurposing buildings, such as mixed-use developments, affordable housing, and community-based projects.
● Review and advocate for legislative frameworks and policies to support the transformation of underutilised properties.
● Highlight the financial potential of redeveloping abandoned properties and attracting both local and international investors.
● Promote discussions on sustainability and community engagement in property management.
The MEC concluded by saying that the clearer picture of what to do with the unutilised or underutilised buildings will be discussed at length at the upcoming property conference next week.
The conference will take place at Inkosi Albert Luthuli International Convention Centre in Durban.
After the government declared free tertiary education in 2017, the property industry has seen an increased demand for student accommodation in the city centre.
willem.phungula@inl.co.za