A decade of corporate semigration and decentralisation fuelled the Winelands commercial sector, with increased demand boosting development, however, this has begun to taper off,precipitating a number of significant market shifts.

Heartwood Properties, a commercial and industrial property developer listed on the 4 Africa Exchange, recently announced the appointment of Mr. Bernard Roy Seeff as the latest non-executive director to join the company’s board of directors and act as a member of their audit committee.

RE-Calibrating Supply and Demand for Sustainable Growth is a natural evolution of the previous year’s theme, Changing the West African Narrative, which aided more than 400 delegates representing over 200 companies to reposition the sector in a region sparked to a growth footing by Nigeria’s exit from recession.

The fourth and final phase of the popular Willow Wood Office Park, developed by Heartwood Properties, in Fourways in Gauteng, is currently under construction and due for completion in March next year.

“Spear’s assets under ownership of its core portfolio have increased 117% since the start of the 2018 financial year. The strong performance of the core portfolio stands testament to the value investing nature of management and ability to actively manage assets that generate yield-enhancing returns for shareholders” – CEO Mike Flax.

In the commercial sector, the city has had a 6% increase in the lease of industrial and retail space.