Johannesburg - Property manager JHI was appointed to manage Old Mutual Life Assurance Company’s entire property portfolio in South Africa and Namibia.
The five-year contract was effective from April 1 this year. JHI has taken over the employment of more than 100 people as part of the arrangement.
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The contract will allow Old Mutual to focus on the strategic asset management of its properties while JHI adds value through the properties’ day-to-day operations. Nomzamo Radebe, JHI’s chief executive, said this week that their relationship with Old Mutual reinforced JHI’s position as a market leader.
“This transaction boosts JHI’s market share and supports our continued growth as a company,” she said.
JHI was recently awarded major contracts by Liberty Group, Delta Property Fund and Investec Property Fund.
It was also aggressively growing its business across Africa and its footprint now included 11 African countries.
BUSINESS REPORT