SAPOA on proposed regulation of foreign investment in property

Posted On Thursday, 09 March 2006 02:00 Published by eProp Commercial Property News
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Comment from Neil Gopal, CEO SAPOA, on the announcement of no short-term moratorium on the sale of land to foreigners as proposed by a ministerial task team on foreign land ownership in South Africa

Sapoa CEO Neil GopalThe South African Property Owners Association (SAPOA) welcomes Government’s position on the matter and believe that further research is required in terms of the proposed regulation of foreign investment in property, without infringing on constitutional rights and frightening away valuable foreign direct investment in all sectors.

SAPOA, whose 860 members consist of property owners, large institutions, banks, property developers, property managers and other property sector stakeholders, is not averse to regulation resulting from an inclusive, transparent and pragmatic process.

We believe that we can contribute positively to this process and will formally make ourselves available in this regard.

This stance was communicated by SAPOA directly to President Thabo Mbeki, following his state of the nation address last month.

The certainty on the issue is most welcome in context of next week’s MIPIM, the world’s leading real estate event which hosts approximately 20,000 key industry decision-makers representing some 100 countries from around the world, in France.

South Africa will be represented by SAPOA, which will be marketing the country’s investment possibilities and tourist opportunities. SAPOA have attended MIPIM over the last 8 years with the aim of marketing South Africa as an investment destination.

 

Last modified on Saturday, 07 June 2014 12:37

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