DR ALAN Louis, CEO of the Cape-based Louis Group, one the largest private property companies in South Africa, and CEO of UK-based Louis Group International, has been appointed chairman of a multi-million pound property conglomerate in the UK.
Three successful property families, with global interests, have united their skills and resources in the UK and established International Real Estate Services (IRES). According to a company statement, issued in London, 'the purpose of IRES is to develop a 'Family Investment Business' that would leverage off the synergies and expertise within the participating families. This model has been evident in other successful family conglomerates such as the Rothchilds, Ruperts and Templeton families'.
The Louis, Saville and Whittome families, within the medium term, seek to identify retail, office and industrial property investments to the value of P100 million. In only a few months the families have been recognised in the British media as a 'serious contender in the UK property industry' after IRES completed industrial real estate purchases in the UK to the value of over P50m.
David Saville of the Saville family, who recently sold their listed property empire to Morgan Stanley Real Estate Fund for P200m, said: 'Dr Louis will be following in the footsteps of respected South African property men like Donny Gordon who have made a significant impact on the UK property market.
'We have known the Louis family for 14 years and their reputation for credibility and as astute business people, who have always delivered profits for their investors, is unquestionable,' Saville said.
'We were always impressed by Alan's expertise in dealing with private family wealth, which is the source of the Louis Group's investor base.
'His management and preservation of investor wealth together with his organisational skills are exceptional and it is this expertise that will be the key to the success of IRES.'
Dr Louis said he was 'thrilled and humbled' by the appointment.
He immediately added that the purpose 'is not to empire-build but rather to firstly unite these successful property families, and future participating families, in their common purpose of investing in real estate that produced positive returns for their investors in the medium to long term'.
'I will be co-ordinating investment strategies so IRES can benefit from the varying skills; and encouraging UK investors to consider investing in South Africa.'
Interestingly Dr Louis believes that the commercial property opportunities are 'as good in South Africa as anywhere else and better than most'.
'Inviting investment and hard currency to South Africa will certainly make a contribution to the development of this wonderful country,' he said.
Publisher: Weekend Argus
Source: Weekend Argus
