The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants.

Gugu mfuphi talks to Estienne De Klerk, Spokesperson Of The Property Industry Group And Growthpoint’S Ceo about The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants that are hardest hit by complying with South Africa’s lockdown in the face of the COVID-19 pandemic. The initiative, which focuses principally on supporting affected SMMEs, also provides relief and assistance to all other retail tenants and will be rolled out by landlords nationally.
During the week of 23 March 2020, the major representative bodies for real estate in South Africa – the SA REIT Association (SA REIT), SA Property Owners Association (SAPOA) and SA Council of Shopping Centres (SACSC) – formed a collective, which has been coordinating its response to the COVID-19 pandemic, and specifically the economic effects of the 21-day lockdown. The newly formed Property Industry Group collectively speaks for the commercial real estate sector in SA, which includes the country’s large property owners. The commercial property sector makes a significant contribution to SA’s society, economy, tax revenue and employment. It is responsible for more than 300,000 jobs directly and indirectly in other sectors such as security, cleaning, hygiene and technical services, and building and construction