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Company Profile

City of Joburg Property Company (SOC) Ltd
The Joburg Property Company (JPC) is a dynamic, visionary company mandated to manage and develop the City of Johannesburg’s (CoJ) property portfolio, valued at R8.6 billion. As a promoter of innovative solutions to the development challenges of contemporary Johannesburg, JPC utilises council-owned land assets to leverage private sector investment in public infrastructure.

JPC’s mission is to:
• manage the property assets of the CoJ, maximising the social, economic and financial value of the CoJ’s property portfolio, and enhancing the efficiency of its use;
  
• provide Asset Management, Property Management, and Property Development services to the CoJ, and interact with the general public; and
  
• to support the achievement of the CoJ’s strategic priorities, including economic and social development, and the service delivery objectives of the CoJ.
  

The JPC Transformation Unit aims to harness the City of Johannesburg’s property portfolio transactions to increase economic growth and to implement Broad-Based Black Economic Empowerment (BBBEE), while creating jobs and economic opportunities for the disadvantaged communities and businesses. The unit fosters transformation in JPC’s business focus, by ensuring that all transactions include social transformation, economic development and investment in communities and its members, particularly among the disadvantaged youth.

In line with the CoJ’s priorities, the Transformation Unit's objectives are to develop the economy and the community, support the CoJ Housing Master Plan and ensure that environmental programmes and parameters are implemented when utilising CoJ’s property portfolio.

These objectives are achieved through programmes such as the Youth Property Programme; Entrepreneurship Programme; Facilities Management Programme; Internship and Learnership Programme; Environmental Programme and SMME and Community Support Programme.


Recent accomplishments

• JPC leveraged R8.6 billion private sector property construction investment within the 2008/09 financial year - a 171% achievement against the targeted investment value of R3.5 billion.
• JPC facilitated the creation of 2 390 jobs through construction on Council-owned land. A further 31 people were trained in construction and property skills through the implementation of the Property Boomshare Strategy.
• JPC has secured investments of R4.7 billion in marginalised areas, particularly the South of Johannesburg and the Inner City, which represents a 188% achievement above the set target of R2.5 billion.
• Land regularisation - formalisation of property rights mainly in the former Black townships and transfer of properties to beneficiaries in Soweto, Orange Farm, Lenasia and Ennerdale:
  - 46 transfers;
  - 2635 ready for transfer;
  - 243 rezoning applications done;
  - 10930 properties surveyed to date;
  - 164 townships proclaimed.
• Upscaling of new entrant property owners in CoJ land/property disposals: 10% of all land/property disposals less than 2ha were allocated to minimum 80% BEE owned and controlled entities.
• JPC was instrumental in supporting the COJ’s Housing Master Plan through the acquisition of land parcels to support housing delivery - 24 000 units can now be provided in the Doornkop area and 5 000 units in the Princess Plots area.
• 30% minimum social housing units incorporated in all residential developments on CoJ land.
• During the 2008/09 financial year, 5 properties were availed to NGOs, Community Based Organisations (CBOs) and other Non-profit Organizations (NPOs).
• Budgeted land sales were set at R11 million and the company achieved R15,3 million.
  

Fast Facts

• Agent of the City of Johannesburg (CoJ) Metropolitan Municipality, contributing to the vision: A World-Class African City.
  
• Generates income for COJ and facilitates social transformation.
  
• Attracts investment to foster economic growth and development.
  
• Utilises council-owned land assets to leverage private sector investment in public infrastructure.
  
• JPC Transformation Unit harnesses the CoJ’s property portfolio transactions to implement BBBEE.