Thursday, 20 September 2012 15:47

Private Equity coming to the property party

Working capital is very hard to obtain for property developers: What with the advent of the global economic downturn, property development across the board slowed down in South Africa towards the end of 2008. Developers were unable to sell their stock as homebuyers couldn’t get bond approvals due to the change in lending criteria by financial institutions

In 1943, Thomas Watson, the chairman of IBM at the time, was reported to have said when he saw the computer: “I think there’s a world market for maybe five.” If only he had known that what started as just an acorn would grow into the mighty oak of the personal computer revolution?

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