JHI AND PAM GOLDING PROPERTIES ENTER INTO A JOINT VENTURE ASSOCIATION
Two of the South African property industry's leading players - the Pam Golding Property Group and JHI - have entered into a joint venture association agreement.
By entering into this alliance we are able to co-operate synergistically and capitalise on each other's core strengths, namely PGP in the residential arena and JHI in the commercial sector. In essence this means that PGP becomes JHI's preferred supplier in respect of residential property services – including PGP's hospitality services, while JHI becomes PGP's preferred supplier in regard to commercial property services.
JHI and PGP are recognised leaders in their respective fields and therefore were natural choices for each other, and in addition, have enjoyed an informal association over a number of years. In fact, PGP was a stakeholder in the former Gensec Property Services, which was incorporated into JHI.
The JV association paves the way for each organisation to focus specifically on core competencies while exploring and capitalising on the additional opportunity that exists within either the commercial or residential sector respectively. It is anticipated this will be a meaningful and successful association with a mutually beneficial flow of business in both directions.
This initiative will facilitate both the organisations' ability to drive their respective core businesses forward in a specifically focussed manner and enable them to allocate further capital and human resources to achieving their medium and long-term strategic imperatives. These include their continued market leadership roles in South Africa, continued expansion into Africa and further internationalisation of the two groups globally.
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