Categorized | Business, Infrastructure

Black property mogul breaks barriers

Rali MampeuleOver the past two decades we have witnessed a significant number of previously disadvantaged property gurus entering the South African housing market dominated by white-owned conglomerates. Rali Mampeule (37) is the CEO of Phadima Group Holdings and he is another one of the special breed of black property gurus who seem to be reaching the billion mark in turnover.

This after the property slump of 2008 hit South African businesses hard, but managed to create new emerging market opportunities the likes of Phadima Group Holdings are now tapping into.

Mampeule’s Phadima is fast becoming one of the major players in the mixed-use and integrated residential developments in the country and is showing no signs of slowing anytime soon.

Phadima has a “project in the pipeline” estimated at over R10 billion based on the number of hectares to be developed. The project includes: Dunnottor integrated which is estimated at R3.5 billion, the Carnival City integrated development at R3 billion and the Middelburg integrated development estimated at R3.8 billion.

The property company’s integrated market approach entails catering for fully subsidised, social housing, rental housing, entry-level affordable housing (finance linked bonded housing) all in one project and leading to integration of different market.

Mampeule is also the acting CEO of Landworth Pty Ltd—a newly launched subsidiary of Phadima Group Holdings. Landworth is projecting a yield of at least 68 000 units over seven years.

According to Mampeule, in the past three years, we have been able to acquire over 1900 hectares of land valued at more than R700 million and 856 hectares of it had already been sold to government for R204 million, as part of our fundraising. “The rest of the land is to be developed in partnership with government and the private sector,” Mampeule explained.

Mampeule and his team are currently on a road show with the aim of raising funding to implement these projects in partnership with government and the private sector. “We will be also quoting (offscreen) using the Over The Counter (OTC) fundraising method with the new South African Financial Exchange (SAFE) to raise further funding for the business plan,” he concluded.

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