Property Sector Charter Council and Property Point COLLABORATE to speed up transformation in industry
Who is the Property Sector Charter Council (PSCC)?
The Property Sector Charter Constitutes a framework and establishes the principles upon which B-BBEE will be implemented in the sector. It is a Property Sector Charter as contemplated in the Broad-Based BEE Act (No 53 of 2003) and the dti Codes of Good Practice on B-BBEE and lays the basis for the development of a code of good practice for the property sector, as envisioned in Section 9(1) of the B-BBEE Act. It establishes targets and qualitative measures? using the B-BBEE framework and over laying the unique knowledge and characteristics of the Property Sector in order to deepen meaningful participation of previously disadvantaged people in the mainstream of SA economy; and outlines processes for implementing the commitments contained in the charter, as well as mechanisms to monitor and report on progress.
With monitoring, the PSCC uses its executive authority to provide guidance on specific property sector B-BBEE matters and also identifies and develops solutions to enable transformation of the property sector.
Who is Property Point?
Established in 2008 as Growthpoint Properties’ Enterprise & Supplier Development initiative, Property Point provides entrepreneurs with the skills, training and personal development support they need to develop their enterprises into fully independent companies. There is power in collaboration and over the years Property Point has evolved into an industry initiative with Growthpoint Properties as anchor partner as well as Attacq, Fortress REIT, Pareto Holdings, Public Investment Corporation and SEDA. Property Point partners with small businesses to enable sustainability through access to markets and business development support resulting in community upliftment through job creation.
Named 2018 Accelerator of the Year, Property Point over the past 12 years has facilitated market opportunities worth more than R1.6bn for the 270 SMMEs that have taken part in its two-year enterprise and supplier development programme. The programme has helped to create more than 4784 jobs and SMMEs on the programme report average revenue growth of 30.2%.
What is the relevance of the Partnership?
The partnership enables PSCC and Property Point to drive transformation in the sector through the incubation and acceleration of black property [ focus on women and youth ] businesses thereby creating a platform that accelerates transformation beyond compliance.
It is also the consolidation of resources and efforts, in bringing to life the POWER OF COLLABORATION, beyond competition – the advantages being shared risk, reduced costs and additional resources which inevitably lead to greater impact to the benefit of all.
50 black property businesses to benefit in the initial phase of programme
How long is the programme / partnership to last?
The initial memorandum of understanding is for a period of three years, with an option to extend further into the future.
Why is Transformation necessary in the Property Sector?
All council members of the Property Sector Charter Council (PSCC), recognise that it is only by transforming the sector, promoting equal opportunity and creating access for previously disadvantaged individuals and companies, that South Africa will be able to create a world class, competitive property industry. The parties further acknowledge that imbalances of the past have to be addressed through this process.
How does the Property Charter interpret B-BBEE?
The Property Charter uses the same interpretation as the Codes of Good Practice for B-BBEE, unless the context requires a different meaning.
All signatories of the Property Sector Code will at all times adhere to the interpretation of B-BBEE that includes the promotion of the principles of equity, financial access, access to opportunity, transformation and growth of the Property Sector.
