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