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Chris Immelman joins PGP International Division

Posted On Wednesday, 28 July 2004 02:00 Published by
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Chris Immelman, who formerly headed up Pam Golding Commercial's leasing and sales division, has been appointed a director of Pam Golding Properties'

Chris Immelman, who formerly headed up Pam Golding Commercial's leasing and sales division, has been appointed a director of Pam Golding Properties'

International Division, which is headed up by Louis van Niekerk.

Immelman is well-known in the property industry, having been involved in prominent developments such as Grand Central Shopping Centre, Portswood Square at the Waterfront, Alphen Park in Constantia, Longbeach Mall in Noordhoek and most recently with Mandela Rhodes Place in Cape Town.

While PGP's International Division incorporates both inward investment into South Africa, as well as 'special projects' - which focuses mainly on unlocking and adding value to property developments mainly with a strong residential component - the demand for the latter has increased significantly in recent years.

Says van Niekerk: "Recent major projects we have been involved in include Pinnacle Point, Bushman Sands Country Estate in Alicedale and Mandela Rhodes Place. Increasingly we are being asked by landowners to apply our experience and expertise in unlocking the full value of the property in terms of development or redevelopment, and as a result we become involved at the very outset, right from concept and strategic planning through to marketing of the project. We are currently in the process of unlocking 200 residential opportunities at the well-known Fish River Sun which will be marketed within the next three months."

Comments Immelman: "The demand for homes in South Africa, with a particularly strong demand for secure residential developments - including golf estate projects - continues to be held on an upward plane by the stable interest rates, an ever increasing demand from the emergent black middle class buyer, as well as a strong demand among second home buyers and general growing confidence in property as an investment. This demand is further boosted by ongoing positive economic and business sentiment in South Africa, including the major, far-reaching spin-offs of the forthcoming World Cup Soccer 2010. This growing trend towards investment in residential developments is born out by the increasing number of enquiries we receive on a daily basis.

"The tremendous success of projects, which include Mandela Rhodes Place in Cape Town, reflects a growing demand for such developments in the inner city, and we are currently involved in a number of proposed, multi-million rand transactions with international developers.

"However the returns naturally need to be sustainable and in creating a residential development one should always seek to provide a quality product in a quality location. We see a growing trend towards property investment products whereby one automatically becomes part of a managed rental pool with a steady return, with the benefit of leisure usage for several weeks of the year," he says.

Adds Immelman: "Such developments also help open up opportunities for tourism and given that South Africa's current tourism statistics are in the region of 1.5 million visitors per year, compared with some 65 million tourists in France each year, the potential for tourism in this country is tremendous, particularly given our growing global profile and stature."


Issued by Gaye de Villiers

Tel: 021 6937788 or 083 325 1939

On behalf of Pam Golding Properties

Publisher: Pam Golding Properties
Source: Gaye de Villiers
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