Real Estate Investor Magazine South Africa October 2016 | Page 53

OFFSHORE

RAYMOND HAYES

JAMES & ASSOCIATES
“It has been a rollercoaster of the year in the UK
property market. Over half our business derives
from property and we see a fair sample of it as we
are involved locally, regionally and nationally. A
slowdown occurred last year principally caused
by George Osborne’s swingeing increases in
stamp duty land tax which particularly affected
London but the knock-on effects were felt here
as well.”
www.reimag.co.za

MORRIS HOVE

RESERVE BANK OF ZIMBABWE
The decision by Reserve Bank of Zimbabwe (RBZ)
to introduce a local currency known as “bond
notes”, equivalent to the US dollar, is set to have a
major effect on the country’s real estate industry.
Without giving a specific date, the Central Bank
Governor John Mangudya announced last week
the bond notes will be in circulation before end
of October, sparking fears of a potential repeat
of the excessive money printing that led to
hyperinflation several years ago.

SANDILE HOPESON NOMVETE

MARA DELTA
Despite Africa’s slowdown, Mara Delta remains
bullish under the African growth story, with the
company announcing that it will invest a further
R1.580bn (US$ 110 million) into Mozambique
real estate market. The company said on
Monday, that the investment will be channelled
to acquire additional four properties, as well as
the second stage development of its Anadarko
building in the capital city of Maputo.
OCTOBER 2016 SA Real Estate Investor

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