Innovative plan for upliftment by new property development company.

Posted On Monday, 10 March 2003 02:00 Published by
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A NEW force on the property development scene aims to make economic empowerment more than a catch phrase.
A NEW force on the property development scene aims to make economic empowerment more than a catch phrase. Coessa Holdings, which was launched recently at a function attended by leading politicians Ebrahim Rasool and Saleem Mowzer, as well as key roleplayers in the industry, aims to empower sub-contractors by offering them a stake in the projects in which they are involved. The new holding company is directed by Shaiek Coe and Adam Essa, who have been involved in residential and commercial property development for several years, and Shabodien Roomanay, who has had almost 20 years of educational management, the last 10 as headmaster of Islamia private college. The company has its roots in the Athlone area and this has helped to shape its philosophy of empowerment. Speaking at Coessa Holdings' plush new offices in Belgravia Road, Crawford, Roomanay said the site of the firm's headquarters was important to the three directors from a liberation point of view. "Belgravia Road was often the front line in the struggle years and it is important to us that we have formed a company operating in an industry to which our community had limited access in the past." Explaining Coessa Holdings' new approach to empowerment, Coe said selected sub-contractors, such as plumbers, bricklayers, plasters, and electricians of proven ability, would be offered a shareholding in a new construction company which already has several exciting projects in the offing, including two in Constantia. "Besides getting paid, they will also have a vested interest in the company" he said. Essa added that many of these contractors had handled big jobs in the past, but they had not received the credit they deserved. "We challenge other people in this industry to take heed of what we are doing and give us opportunities to grow. "We are trying something novel and we're convinced that this is the right thing for South Africa at this time. As our motto states, we are creating opportunities for development," he said. Projects in the firm's current portfolio include high-value residential units in all areas, including a 14-unit luxury development in Constantia. The houses will be competitively priced. Coessa Holdings is also involved in commercial developments with a strong emphasis on retail and offices facilities, industrial sites that provide easy access to previously disadvantaged entrepreneurs and turnkey complexes. The company also offers state of the art project management services that include conceptualising, financing, technical assistance and advice and high-quality construction. l For more information contact Coessa Holdings on 021 696 4222.
Publisher: Weekend Argus
Source: GRAHAM NORRIS.

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