Property services company Broll Property Group says South African property businesses will have to look to the rest of the continent if they want to achieve the right levels of growth.

CE Arnold Meyer says the South African market is only "that big" and as opportunities open up across the continent it "would be foolish not to pursue those opportunities".

He says Broll will continue its expansion plans into the continent with potential offices being opened in Zambia and Tanzania.

Broll already operates in Botswana, Namibia and Nigeria, from where it services the west African market. "This comprehensive offering includes facilities management, property management, leasing and advisory servicesas well as project management."

Meyer says the potential for growth is heightened because colonial legacies and systems have left Africa desperate for professional property services.

"The opportunities are vast. However, there have been little, if any, professional property services on the continent to date.

"Already it is clear that as more oil fields are discovered along the west coast, this need will become increasingly urgent," Meyer says.

"West Africa is exceptionally rich in oil; current estimates are that oil reserves along this coast are equal to those in the Persian Gulf. On the back of this new discovery, there are enormous demands for propertyand property services."

He says that in Lagos, Broll is implementing a facilities management solution for several hundred petrol filling stations and is also introducing South African-type retail forecourts to these stations.

He says Broll is also involved in a consultative role in the design,letting and management of several shopping centres in Lagos, Abuja and Kano.

The company expands where it sees the greatest opportunities lie. "We open offices on the backs of contracts. We don't open up and wait for work to come."

He says the property market in SA is mature and there is a lot of competition,where as other African markets are still "virgin territories" in terms of fees and fee structuring.

Meyer says many opportunities emerge from financial institutions and South African retailers opening up shopping centres in other parts of the continent.

Business Day