With government tenants occupying more than 440,000m2 of the office portfolio, accounting for 18% of ApexHi’s annual rental income, ApexHi partnered with Isivuno in mid 2006 in a profit sharing and management deal for a portfolio of commercial properties in Pretoria, where government is the major tenant.
In 2007, Isivuno’s responsibility was extended to handle government lease negotiations across the entire portfolio. The government portfolio is now worth R1,4-billion and Isivuno is responsible for the property management of 13 properties in Pretoria, and for the lease negotiations of properties in the Eastern Cape, North West Province, Nelspruit and Johannesburg.
Isivuno director Dumisani Nene says leases totalling more than 100,000m2 have been negotiated with government since the agreement was signed. “Importantly, the agreement has provided the catalyst for real empowerment,” he says.
Isivuno has employed six staff to manage the properties in the portfolio and the team currently comprises two transaction managers, two operation managers, an office manager and a director.
From the outset, the two parties agreed that affirmative procurement would form a vital part of their association, and expenditure to date of R50-million in the Pretoria portfolio has been biased in favour of previously disadvantaged individuals.
Nene says among others, the company has worked with professionals such as Nombo Mabhele Quantity Surveyors, a highly competent company owned and managed by African Women.
Amaqhawe Projects, a wholly black-owned construction company, was appointed as the main contractor for the R15-million refurbishment of Isivuno House and other projects. Amaqhawe managing member, Robert Zondo, says “ApexHi and Isivuno may believe that they have supported the company, but they will never begin to understand the impact they have made in the lives of our employees and their families. They have given us new hope for the future.”
Isivuno operations manager, Kgantsho Mabuse says government’s needs and standards are no different from those of the private sector. “It is important to ensure that while we empower, we use organisations that have high work ethics and standards, and so far we have not been disappointed,” he says.
Empowerment initiatives have not only been confined to construction work, but extended to technical areas such as upgrades of lifts, where organisations such as Millennium Control CC - a BEE Level Two contributor – and Q and A Elevators, a wholly black owned enterprise have benefited.
Publisher: eProp
Source: ApexHi

