AFTER THE BELL: Business is betting on a post-ANC Joburg — unless ego gets in the way
From Redefine Properties’ Joburg vacancies to Growthpoint’s Waterfall strategy, property companies are adapting to municipal dysfunction while watching coalition negotiations.
After a hectic election period, businesses are wondering if Joburg's future will be under the ANC's rule or if they will take matters into their own hands. Property firms like Redefine Properties and Growthpoint have reported high vacancy rates in Joburg and are hoping for positive change through coalition negotiations. Some companies, like Growthpoint, have proactively developed projects like Waterfall City in Midrand to mitigate the city's issues.
However, other firms such as Spear Real Estate Investment Trust have taken a different approach by exclusively investing in the Western Cape. While some businesses see potential in the ANC's stability, others fear that the party's previous record of mismanagement could hinder progress. The upcoming coalition negotiations will set the stage for Joburg's future, but the looming question remains: will the city's business community ultimately be satisfied with an ANC-led administration?
Written by urgent.news from Daily Maverick's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
