Business Day Reporter

PROPERTY group MINC Property Enterprises, an organisation that specialises in the London and Dubai buy-to-let market, has opened a local office to give South Africans the opportunity to diversify their portfolios.

MINC is 25 years old and in 1999 became the largest private property investor in London’s Canary Wharf development.

Jon Forman, general manager of MINC Property Enterprises SA, says the local office based in Rosebank, Johannesburg, was established to address increased interest from South African investors for offshore property as a hedge and capital growth opportunity.

"We are marketing existing opportunities in London and Dubai. London is a high-demand market, particularly in the buy-to-let space, while Dubai, which has recently had its laws changed to allow foreigners to acquire freehold property, is experiencing a boom," says Forman.

He says London has experienced considerable and sustained growth since the early 1990s.

"Last year property in London grew 14%. Growth slowed this year but MINC has identified certain growth nodes within specific areas where demand is highest," says Forman.

MINC acquires all properties before offering them to investors and says this demonstrates the high level of confidence the organisation has in the investments it provides. "The yardstick is always whether or not our consultants see value and potential for returns in the property we select," says Forman.