From apartheid to ownership: how property drives wealth, jobs and transformation in South Africa

Through public-private partnerships and investment in land-backed assets, property will play a pivotal role in shaping an economy where Black South Africans are empowered not only as homeowners but also as landowners and property developers. “The path toward a trulyinclusive economyis far from complete, spelling that this is where theproperty sectorhas a crucial role to play,” says the RB Property Group. It reveals that from the days ofapartheid, when access to land was restricted for Black South Africans, to the strides made in recent decades with Black homeownership increasing from just 1 million in 1994 to an estimated 5.5 million by 2025, progress has been significant.

“Property ownership is not just about homes; it’s about building wealth, creating stability and fostering a culture of entrepreneurship.” Reflecting on the past 25 years since the inception of RB Property Group in 2000, the firm says it stands at the threshold of another significant milestone-the next 30 years of driving transformative change in South Africa’s property sector. “As we look ahead, we recognise that economic transformation, inclusive growth and sustainable development will continue to be at the heart of our mission.” The firm says that the need for affordable housing continues to be one of the most pressing issues in South Africa. It notes that while over 5 million Black South Africans were expected to own homes by last year, more than 2 million families are still waiting for access to affordable housing.

“As part of our vision for the next 30 years, we aim to build integrated, mixed-use communities that provide not just homes, but employment, education and essential services.” Land reform remains a key challenge, but it is also an opportunity, according to the RB Property Group. It says it will continue to drive land restitution and land reform initiatives to ensure equitable access to land.