6 March 2006

Gensec launched their new Western Cape Regional Office in the foreshore of Cape Town late last week. Marna van der Walt, CEO Gensec predicts a strong trend for the increasing demand for space in the commercial and residential property markets of the Cape Town CBD.

"We see this trend evolving along with the increasing investments made in Cape Town by international investors. Cape Town is becoming an investment node for foreign investors due to the increasing upmarket lifestyle that will speed up the renewal of the Cape Town CBD."

Gensec moved into the 26th floor of the Met-Life Centre building in December 2005, becoming fully operational in January 2006. Gensec made this move to show their support to the city's rejuvenation and also to be at the centre of a clearly unique business energy seldom found elsewhere but in the hub of the Cape Town CBD.

"To Gensec it made business sense to move into the Cape Town CBD and to show our commitment to the inner city renewal. Gensec also wanted to have a strong business presence in the Cape Town foreshore and be more accessible to most of our customers adding to other operational offices in Gensec buildings across the Western Cape," van der Walt says.

"Cape Town is becoming an international destination and a viable investment option for foreign investment. As a spin-off, the retail and entertainment sectors will continue to evolve, bringing greater demand for tourism to Cape Town."

"Due to the increasing investments and convergences to upmarket residential areas, there is an increasing demand for residential developments that impacts the need for office space in the Cape Town

CBD. The demand for middle class residential space is growing faster

than the pace of delivery, creating a gap in the market."

"I predict that this trend of business growth in the Cape Town city centre can be expected to become sustainable and even accelerate as investments are on the rise. Prices across the board in the property sector can be expected to take an upward swing as the demands are increasing daily," van der Walt concludes.

-End-

About Gensec

Managing a diversified portfolio of R12 billion, Gensec Property Services is one of South Africa's largest independent and progressively empowered management companies.

Further information:

Tania Taylor

Gensec

Tel: 011 471 7457

Fax: 011 471 0552

Cell: 072 345 1344

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Nadia Swift

Livewired Communications

Tel: 011 202 7877

Fax: 011 804 3804

Cell: 084 588 6290

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