More new companies are emerging to take advantage for this vibrant and exciting market, competition is increasing and it is therefore imperative that each investment opportunity be thoroughly analysed for risks and benefits. It is also crucial that NUMPROP ensures proper operation of all essential building services and goes the extra mile in the provision of professional, efficient and effective support for the our customers.
Long term plans are in place for the future security and development of the company and ultimately for our client base potential partnerships and business collaborations.
NUMPROP is a property owning and management company founded by the National Union of Mineworkers (NUM) in order to provide property management and facilitation of various properties in the country. Seed funding for this venture was obtained through the Mineworkers Investment Trust (MIT) who remain the sole shareholder.
Property rental and leasing have proven to be in high demand on a national scale, especially in urban areas where it is applicable to both commercial and residential properties. Municipalities in their various Integrated Development Plans (IDPs) are identifying more property development opportunities as part of their service delivery to the population. The market values of properties have indicated a consistent upward trend over the past five years, although the affect of the global financial crisis has impacted on the South Africa property market, experts predict that this will be greatly improved by mid 2010. NUMPROP views this as a time for reflection and a period for planning the future, the growth potential for this market is unquestionable. We pride ourselves on being relevant and informed as the South African property management market has a number of legislative requirements that must be complied with, for instance local by-laws and provincial ordinances affect some of the aspects of property management in terms of safety standards.
NUMPROP was established through The Mineworkers Investment Trust in order to extend its investment footprint through investment into property. The property market in particular lent itself to new horizons where access to ownership, funding and investment had eluded some and now offered advancement and development to many.
NUMPROP positioned itself to participate and explore these opportunities with specific focus on property investment, development, management and other related services. However, our continued priority remains to provide quality property management service to NUM and to ensure that there is return for continuous social investment by MIT to members of NUM and their dependents through projects and programmes.
Legal requirements vary from commercial properties to residential properties and it is vital that NUMPROP remains up-to-date and compliant with any changes to property laws. The same applies to property taxes and other forms of taxation that may influence decisions by NUMPROP. As one of the country's first and wholly-black owned property management companies that is operating on a national basis we identify businesses of like-mindedness to work with and assist with equity and empowerment through B-BBEE enterprises.