Pam Golding Commercial concluded sales of R3 billion for the financial year,incorporating transactions through leasing and sales, commercial auctions, international investments and the hospitality division. Highlights include the auction of Mount Richmore Village Estate near Salt Rock, KwaZulu-Natal for R50 million and sales to date (in a JV partnership with Shabalala Properties) to the value of R70 million at Bridge City, a R4 billion mixed use shopping and residential centre development in KwaZulu-Natal.

Pam Golding Hospitality retained its market leadership position with Pam Golding Hotels having facilitated a number of hotel transactions amounting to R540 million. They are also currently engaged in the facilitation of seven new hotels throughout South Africa as well as various mixed use developments; Pam Golding Lodges and Guesthouses facilitated R134 million of sales with a strong demand among foreigners; the newly created Pam Golding
Hospitality & Tourism Consulting business was in high demand and engaged in numerous feasibility studies for regional and foreign investors regarding new hotel projects, while a recent addition is the Pam Golding Restaurant Division.

In addition, the Pam Golding Commercial / Athanor JV currently manages commercial property in the UK and Europe with a total value of GBP152 (approximately R2.3 billion) million, while Pam Golding Sectional Title Administrators manages buildings with a combined capital value of R7 billion.

An interesting point considering the debate around foreign property ownership in South Africa, is that sales to overseas buyers represented only three percent of total residential units sold by PGP. These represented purchasers from some 26 countries around the globe, with the bulk of sales to British buyers, followed by those from America, Germany, Holland, Belgium and France.