We share some important industry activity with you in this Update, as follows:
- Developers, the property practitioners authority & the 31 October due date
- Property development manager average salary
- Re-zoning: Conveyancer’s explanations for entrants to property development
- Construction management profession’s training institutions to accredit
- Developers: Alert your building owners to obtain EPCs
- Competition commission takes a hard line: Developers, insurers, all
Developers, the property practitioners authority & the 31 October due date
Earlier this year, role players in the real estate industry were caught by surprise when it became apparent that the Property Practitioners Act, which became operational on 1 February 2022, goes further than (only) regulating estate agents’ practice, as the repealed Estate Agency Affairs Act had done. In fact, the Act brings developers, mortgage originators, managing agents and business brokers, amongst others, under its auspices too.
If you would like to attend a discussion panel on developers’ compliance requirements, please confirm your interest by sending an email to firstname.lastname@example.org
Property development manager average salary
One sometimes wonders what the average salaries of professionals in certain industries are. According to talent.com, the average property development manager salary in South Africa is R480 000 per year or R246 per hour. Entry-level positions start at R330 000 per year, while most experienced workers make up to R7 800 000 per year.
Re-zoning: Conveyancer’s explanations for entrants to property development
Each parcel of land in South Africa is uniquely categorised as belonging within a certain zoning area, and the zoning types can range from residential, industrial and agricultural to recreation, mining, educational and mixed-use. Zoning regulations are municipal rules that essentially dictate what the respective parcels of land within the jurisdiction of that municipality, may be used for and how it may be developed. In each instance, the permissible uses of the relevant property will be defined in the relevant municipality’s By-Laws.
Construction management profession’s training institutions to accredit
The SACPCMP (“SA Council for the Project and Construction Management Professions”) has issued a notice in the Government Gazette of 30 September which announces the development of an Accreditation Policy for learning institutions.
Developers: Alert your building owners to obtain EPCs
As reported on in our Development Law Update 2/2022, owners of non-residential buildings must ensure to be in possession of Energy Performance Certificates (“EPC”) by the 7 December 2022 deadline. Failure to comply is dealt with harshly, and may result in attracting a fine of up to R5 million (or even imprisonment, although the latter will likely only be imposed in exceptional instances).
Competition commission takes a hard line: Developers, insurers, all
In May this year, the Competition Tribunal fined a well-known construction group of companies the sum of R15,7 million after they were found guilty of price-fixing, market allocation and collusive bidding in construction-related markets for geotechnical services. These services include piling, lateral support, grouting and geotechnical drilling investigations. These offences occurred as far back as the 1970’s and appears to have continued until to 2015.