Johannesburg – Motseng Property Group (Proprietary) Limited, the property management and related services arm of Motseng Investment Holdings (Proprietary) Limited (“MIH”) has today announced that it has acquired the remaining 50% in specialist property management company MotsengMarriott Property Services (Proprietary) Limited (“MotsengMarriott”) from its joint venture partner, Marriott Corporate Property Services (Proprietary) Limited (“MPS”), effectively giving MPG 100% ownership of MotsengMarriott.

The transaction has entrenched MotsengMarriott’s position as the largest 100% black owned property management group in South Africa, a position held since the company’s launch in August 2002. In the three years since, MotsengMarriott has benefited enormously from the transfer of knowledge and skills acquired from Marriott. Launched with a portfolio comprising R2 billion-worth of assets under administration – including two major regional shopping centres, namely Pavilion Shopping Centre in KwaZulu-Natal and Westgate Shopping Centre in Gauteng – MotsengMarriott has set its sights on acquiring  further management mandates within the next three years. The purchase of Marriott’s share in MotsengMarriott is in keeping with the group’s strategy to make substantial business acquisitions as key contributors towards business growth.

According to Sandile Nomvete, CEO of MIH, “We were presented with a unique opportunity to acquire Marriott’s 50% shareholding and become 100% black owned.  Our new position will present key opportunities which will assist in reaffirming our status as the biggest 100%,
black economic empowerment property management company in the country.  Our vision for the company is to continue providing exceptional management to property owners.”

Commenting on the development, Craig Ewin, Managing Director of Marriott Corporate Property  says, “Marriott is proud of the achievements of MotsengMarriott. Not only has the MotsengMarriott team delivered a high level of service but significant strides have been made on the broad BEE issues for the benefit of all concerned.  The company is well positioned to build on this solid foundation.”

On the anticipated property industry charter Nomvete goes on to say “As a wholly owned subsidiary of MIH, MotsengMarriott is 100% black-owned, which will clearly exceed any targets proposed by the charter,” says Nomvete. “This status will also give us a competitive advantage in terms of business growth as property owners look to fulfil the charter requirements with regards to affirmative procurement.”

About Motseng Investment Holdings (Proprietary) Limited
Motseng Investment Holdings (“MIH”) is an investment company focusing on the provision of property related service to all business sectors and is headed by a team of experienced entrepreneurs. The group is based in Gauteng and has representation in KwaZulu-Natal and the Western Cape. Established seven years ago, MIH currently employs 522 people and in the last financial year achieved turnover in excess of R100 million.

Initially, MIH held interests in the provision of soft services, but has since diversified into the industrial, textile manufacturing and property sectors, among others. The group’s foremost achievements to date include establishing MotsengMarriott Property Services, obtaining a majority stake in Mooi River Home Textiles (a distributor of textile, fabric and footwear products to various government departments), concluding a black economic empowerment deal with KAP International and other unlisted Class Daun entities. Also, MIH was awarded the Black Business Quarterly (“BBQ”) SMME of the Year Award in 2003.

Driven by a vision to be the premier black-owned investment group in Southern Africa, MIH’s mission statement is to develop entrepreneurial growth; foster empowered management at operational level; and ensure positive growth and stability for its shareholders and staff.

ENDS

Distributed by:
Bongiwe Moeli
Publicity Director
Red Cube Agency
Tel: 011 268 5704
Mobile: 083 541 0063
Fax: 011 268 5705
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Distributed on behalf of:
Sandile Nomvete 
Chief Executive Officer
Motseng Investment Holdings
Tel: 011  803 7912
Mobile:  082 375 1739
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