Real Estate Investor Magazine July/ Aug 2020 July 2020 | Page 13

JOHN RABIE
leadership vacuum at many levels of government. This has
two unfortunate effects: a lack of clarity about land policy, and
a sea of red tape to swim through to get our zoning approvals
in place. The latter is a frustrating and unnecessary hindrance
that really is slowing down the pace of development when we
desperately need it more than ever. So we have to plan well
in advance and make provisions for these inordinate delays.
“In Europe, the situation is very different of course, and I
have to say what a pleasure it is to work in an environment
that is not beset with the political uncertainties we face here,
and where there is a clear regulatory framework in which
to operate. Not that there isn’t red tape – believe me, the
Portuguese are sticklers for dotting their I’s and crossing their
T’s, and nothing happens without an official stamp of approval!
But at least the process is dependable and transparent, which
is great help in attracting investors and planning development
roll-outs.
“In terms of the actual developments, what we are trying
to achieve in Portugal is very similar to the highly successful
mixed-use projects we have brought to the market in Cape
Town, such as The Onyx or WEX1, and this is certainly the case
with our first venture in the Portuguese capital, LX Living,
a significant mixed-use development in one of the most
sought-after and strategically located areas of central Lisbon.
“The fascinating thing is that although the economic
landscape is so different in the two countries, the particular
dynamics of urban renewal in these twin waterfront cities are
actually very similar in many ways.”
What do you consider the highlights of your career?
“Marconi Beam was definitely one our most significant
achievements, and the first of our major public-private
partnerships. This was where Madiba launched the
Reconstruction and Development Programme, and where we
were simultaneously able to unlock the enormous value of a
large tract of parastatal-owned land and effect massive social
change by moving an entire squatter community into formal
housing on the site. It was a recipe we were able to employ a
few years later at Westlake with similar win-win results.
“Without doubt, the acquisition of Century City in 2004 was
a landmark achievement for us, and it has become the jewel in
the crown of the Rabie Property Group as we have been able to
phase the development of 250 hectares of marshy, degraded
wasteland into a world-class example of integrated New Urban
development, in which all the different facets of land use work
together to enhance the value of the whole precinct.
“The launch of Signatura, my private label development
brand, has definitely been another major highlight, allowing
me to concentrate on brownfield urban opportunities in the
City Bowl and Atlantic Seaboard, where we’ve been able to
replicate the mixed-use recipe on a smaller scale, bringing
together residential, commercial and hospitality elements in
a single building, as in the case of The Onyx, for example, or
in a single precinct, as in our cluster of WEX developments in
Woodstock.
“Finally with our offshore expansion through Neworld, we
were able to use the skills we have acquired in four decades
of experience and successfully apply them in a first-world
environment like Portugal. where we are able to compete with
the best in the world.
“But over and above the developments themselves, I think
looking back that one of the things that I am most proud of is
having built up incredibly competent teams of people around
me, in the Rabie Property Group with my first partner Leon
Cohen, then at Signatura, and now again at Neworld.
“It’s heartwarming to see the expertise and the enthusiasm
bubbling up in younger members, and that gives you
confidence that these companies will continue successfully
into the future.”
Neale Petersen
Founder & CEO of REI
John Rabie
Founder of Rabie, Signatura & Neworld