The SA commercial property sector has taken a significant knock as a result of lockdown and Covid-19. Historically, property has generally managed to recover and beat the market even during and after tough economic times. This times it seems different.
Many Offices, retail shops and warehouses were closed as result of lockdown and created massive challenges for rental collections, financing property arrangements being restructured and payment holidays and also for new developments in the construction sector that were all put on hold that created an already struggling economy pre-Covid.
Questions to be asked: What's next for the office, retail, industrial markets and the related construction industry involved in new developments. Will working from home impact the office market, how will online impact retail, and what does the future hold? Where are the challenges as well as the big opportunities for this sector going forward?
Alan van der Westhuizen - IWG
Wayne Van der Vent - Quoin Online
Deon van Zyl - WCPDF
Erwin Rode - Rode & Associates
Andrea Taverna-Turisan - Equites Property
Marius Muller - Venator Holdings
Mike Mortimer - ABSA