QPG’s key executive directors have established track records of property development and portfolio management in their own right, having developed a number of Johannesburg’s landmark projects totalling in excess of R4 billion to date.  The group’s current development project is ‘15 on Orange’, a premier mixed-use development in Cape Town which will be valued at close to R1 billion on completion.

Four years ago the current QPG executive gained control of the board of JSE-listed shell Anbeeco Investments Holdings Limited (“Anbeeco”) with a view to remodelling it as a diversified property company. Bonheur 92 General Trading (Pty) Ltd was appointed as Anbeeco’s management company and  Anbeeco recently acquired A Million Up Investments 105 (Pty) Ltd which owns the ‘15 on Orange’ site.  On transfer of Anbeeco’s listing to AltX later this month, the company will be renamed QPG. 

Investor confidence in QPG’s prospects enabled the group to raise R32,3 million prior to its listing on AltX despite tough economic and market conditions.  QPG issued shares to select investors in a range between R1,50 and R1,80 a share. 

Executive Chairman Chaim Cohen, who in 2007 won the award for “Innovative Excellence in Development” at the 39th annual SAPOA Convention, says QPG intends to generate capital growth from a diverse property portfolio spanning all sectors going forward. “We have developed a three-pronged strategy to ensure that we build a sustainable portfolio in which revenue streams are diversified and can deliver appropriate returns for our new shareholders.”

“Put simply, we will do what we know best.  We will either develop new or re-develop old properties across the spectrum from commercial through retail to leisure in strategic locations initially in Johannesburg and Cape Town; invest in existing properties to build an asset base; and acquire properties with a specific view to refurbishment or re-tenanting for short-term re-sale.”  He explains that the strategy is designed to achieve predictable recurring revenue from rentals, add regular income from developments and balance this with sporadic, less predictable profits from trading in properties.   

He says the rationale for listing on AltX is to raise QPG’s profile to access large and a greater number of property opportunities.”  Cohen points out that the current state of the property market exposes a number of prime acquisition opportunities, making this a good time for QPG to list on AltX.  “A listing will enhance access to borrowings to fund acquisitions and further allow us to use scrip as a means of financing investment opportunities.  Scrip is proving increasingly attractive to property asset owners who are at present pressured by bonds at high interest rates.”