SONA comment: Property Sector - Joff van Reenen, Director, High Street Real estate Auctioneers

Posted On Friday, 12 February 2021 13:20 Published by
Rate this item
(0 votes)

President Cyril Ramaphosa’s State of the Nation address was lacklustre at best, failing dismally to reassure investors that the country has tangible short- to medium-term plans to effect an economic turn-around, comments Joff van Reenen, Director of specialist real estate auction company, High Street Auctions.

Joff_van_Reenen“Prior to the Covid-19 pandemic what we needed from government was long-term strategic goals to invigorate investment, but what business needed today was a policy position shift.

“The message investors needed to hear is that the public sector will become an enabling partner to business rather than a red-tape laden behemoth that places the responsibility of job creation squarely at the door of private enterprise.

“The reality is that in 2020 the lockdown all but imploded the private sector, which will take years to recover even with the strongest government backing. Without active policy changes across the board, the private sector’s burden is too great.”

Van Reenen says SONA 2021 highlighted the need to address corruption, economic growth and reform and the lack of infrastructure to service the country – the same subjects addressed in SONA 2020.

“We’ve heard this before. We know the problems, but what we need from government now, is firm leadership in offering solutions.

“Unless we have substance to underpin the big blue-sky thinking, the government is offering little to nothing in the way of tangible assistance to effect an economic turnaround,” says Van Reenen.

Last modified on Tuesday, 16 February 2021 13:30

Most Popular

Strong demand boosts Balwin as it claws back three months of no construction activity due to covid lockdowns

May 18, 2021
The Huntsman 2
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Construction kicks-off at the R500-million Boardwalk Mall

May 17, 2021
Architects presective of the exterior  of the Boardwalk Mall
Flanagan & Gerard Group and Emfuleni Resorts, a subsidiary of Sun International (JSE:…

Growthpoint leverages development prowess to re-imagine La Lucia Mall as a vibrant suburban mixed-use experience

May 17, 2021
Growthpoint Properties (JSE: GRT) is applying its development expertise to unlock…

Residential sectional title sales again on the rise

May 27, 2021
Over the past 15 years, the sectional title market in South Africa has become entrenched…

Successful degearing and continued dividend payments has allowed Investec Property Fund to continue rewarding shareholders

May 19, 2021
Andrew_Wooler_IPF (1)
Investec Property Fund, (“IPF”, or “the Fund”) today announced a resilient set of…

Please publish modules in offcanvas position.