DEVELOPER PROFILE
• Bulk Earthworks for the New Engineering Block & Parkade for University of Pretoria;
• Civil Engineering Services for the Mjejane Private Game Reserve & Lodge for Mjejane Trust, in Mpumalanga;
• Civil Engineering Services for the Baken Park Mixed Use Development in Bethlehem, Free State.
At Odoko he learnt the fundamentals of property development, including the many external factors that the company needs to proactively manage and consider.
From civils and earthworks right through to road construction, a key to ensure continuity for this project was activating a consummate and well-equipped on-site service team for fleet maintenance and repair. The Mejejane Game Reserve project included implementing employee health and safety regulations as well as an environmental management plan and protection of the local fauna and flora.
Through their reclamation project, Odoko was created as a vehicle for job creation and skills transfer that will, in the long term, develop skills and careers. Odoko will create an expected 200 jobs through phase one of the developments.
In 2012 he formed FutureDev Properties and has not turned back. They have been involved in a number of residential and mixed-use developments throughout South Africa in various capacities and roles. The most prestigious one being the Pearls of Umhlanga, which is the largest privately developed residential development in South Africa at the moment, valued at just over R3 billion. Other major developments of FutureDev include:
• 89 Full Title Homes in Mackenzie Park, Benoni
• 699 Affordable Housing Units in Tongaat, KZN
• Numerous Upmarket Sectional Title Apartment Developments in the Sandton Area
• Various Student Accommodation Developments in the Johannesburg CBD for just over 2000 students In 2015, the partners took a decision to focus all their de-
velopment efforts on the northern suburbs of Johannesburg, i. e. Sandton, with a very distinct and clear geographical precinct, and product offering. FutureDev aims at becoming a leader in full title, freehold residential developments in the residential suburbs of Sandton.
Akbar has established FutureDev not only as an independent, but also as a turnkey developer. Essentially, turnkey starts from buying the land at competitive prices, financing the real estate deals, create, control and orchestrating the process of property development from beginning to end, project management and consulting.
He believes in giving investors in his properties more than what they pay for, giving more value for money what they pay for. He warns against staying away from development partnerships. While there are always good and bad partnerships, it’ s important to take your time and take advice.
When asked about the impact he’ d like to make on the property industry, he emphasises the importance of moving the focus away from making money, towards adding value and providing a service.
He sees a big gap in the affordable housing sector and says there is always an opportunity for it in South Africa. Equating it to the land of milk and honey, Akbar explains that if you can deliver a quality product in a market where there’ s a need for it, you’ ll be successful.
AKBAR’ S TOP INVESTMENT TIPS
Build up your knowledge and educate yourself – stick with what you know
Educate yourself about sector and product Don’ t rush into an investment, read about it first Don’ t buy because it is inexpensive Do your due diligence
SA Real Estate Investor Magazine MAY / JUNE 2018 27