Property Sector Charter 2017

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CHAPTER 1: OWNERSHIP This chapter reports about the ownership of enterprises in the property sector. 1.1 DEFINITION OF OWNERSHIP Ownership measures the effective ownership of enterprises by black people. Ownership recognises and measures the entitlement of black people to the voting rights and economic interest associated with equity holding. Voting rights afford the rights to determine strategic and operational policies of an enterprise, while economic interests result in the rebuilding and accumulation of wealth by black people. 30
1.2 OWNERSHIP IN THE PROPERTY SECTOR CODE 1.3 OWNERSHIP CHALLENGES Under the PSC, there are two (2) ownership scorecards, namely: • property owning companies and • all other companies. The core business of property owning companies is buying and owning property and increasing their portfolio and assets. Ownership of enterprises by black people, particularly black women is limited in the Property Sector. Majority of the enterprises in the Property Sector are largely owned by white people. 1.4 PURPOSE OF OWNERSHIP IN THE PSC 1.5 OWNERSHIP TARGETS AND WEIGHTINGS In line with the Constitution and BBBEE Act, the PSC aims to redress the inequalities in ownership of enterprises in the Property Sector. It does so by requiring enterprises that operate within the Property Sector to commit, and annually report on their performance towards set ownership targets in the PSC. Each Property Sector enterprise commits to achieve the following targets within five years: • at least 25% economic interest by black people; • at least 25% plus one (1) vote exercisable by people in the enterprise; • at least 10% ownership and economic interest by black women and 10% votes exercisable by black women in the enterprise; and • at least 2.5% participation in ownership and economic interest held by broadbased ownership schemes and/or designated groups. 31
Page 1 and 2: Released in 2017 2015/2016 STATE OF
Page 3 and 4: 3.4 EMPLOYMENT EQUITY TARGETS AND W
Page 5 and 6: Corporate Profile The Property Sect
Page 7 and 8: 7
Page 9 and 10: EXECUTIVE SUMMARY Property and Real
Page 11 and 12: In summary: • Overall Excellent p
Page 13 and 14: I. Employment Equity: the achieved
Page 15 and 16: ACKNOWLEDGEMENTS Despite all the c
Page 17 and 18: GoG RESEARCH METHODOLOGY This rese
Page 19 and 20: GoG Eight (8) steps were followed
Page 21 and 22: The same study, which was done in 2
Page 23 and 24: The Property Sector Code The PSC w
Page 25 and 26: Property sector segments The partic
Page 27 and 28: Property Sector Recognition BEE lev
Page 29: 29
Page 33 and 34: GoG 1.6.1 Segment Performance of O
Page 35 and 36: 35
Page 37 and 38: 2.2 MANAGEMENT CONTROL CHALLENGES
Page 39 and 40: 2.5.3 Property Management Services
Page 41 and 42: 41
Page 43 and 44: 3.2 EMPLOYMENT EQUITY CHALLENGES 3
Page 45 and 46: 3.5 ACTUAL EMPLOYMENT EQUITY EXCLUD
Page 47 and 48: 3.7 EMPLOYMENT EQUITY OF ESTATE AGE
Page 49 and 50: CHAPTER 4: SKILLS DEVELOPMENT This
Page 51 and 52: 4.4 SKILLS DEVELOPMENT DESCRIPTION
Page 53 and 54: 4.6 PERFORMANCE OF SUB-ELEMENTS UN
Page 55 and 56: CHAPTER 5: PREFERENTIAL PROCUREMEN
Page 57 and 58: Table 5.1 summarises the indicators
Page 59 and 60: 5.6.2 Sector QSE and EME Spending
Page 61 and 62: CHAPTER 6: ENTERPRISE DEVELOPMENT
Page 63 and 64: 6.5 ACTUAL ENTERPRISE DEVELOPMENT
Page 65 and 66: 65
Page 67 and 68: 7.2 SOCIO-ECONOMIC DEVELOPMENT IN P
Page 69 and 70: 7.6 PERFORMANCE OF SUB-ELEMENTS UN
Page 71 and 72: CHAPTER 8: ECONOMIC DEVELOPMENT Th
Page 73 and 74: 8.5 ACTUAL ECONOMIC DEVELOPMENT Th
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Page 77 and 78: CHAPTER 10: FROM HERE WHERE TO? 10
Page 79 and 80: THANK YOU MESSAGE Property Sector C

Property Sector Charter 2017

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