Interview and Article by Ntokozo Nkambule
Could you give us a detailed account of who you are, your educational background, and your academic qualifications?
I am a goal-driven person, I believe in setting long and short-term goals to help me focus on attaining my daily tasks. In terms of educational background; I hold a Bachelor of Science Degree in Property Studies from the University of Cape Town (UCT), which I completed in 2015.
Upon completion, I was employed by Springbok Property Valuations, which is a private company based in Mbabane. I worked there as an Assistant Property Valuer for a year. I then joined GS Chiyanda Property Valuers for two years, working as a Principal Valuer.
Personally, I am an individual who is passionate about the Real Estate industry, mainly, Property Valuation which I believe is the most marketable in the space. Providing this kind of service in the country gets me excited.
What prompted and inspired you to venture into property?
My love for the property sector actually cuts deep, I was motivated by my father, who has always been in property. There were no two ways for me, I always knew what I wanted to do growing up. This is why I enrolled in Property Studies at UCT.
You founded a company, Phoenix Property Valuations, and Real Estate Consultants, what does the company do?
Essentially, we are an all-round property company established three years ago, with Property Valuation being our main service. We also, however, offer Property Management and Real Estate Services, which include aspects such as Real Estate Development and Consultancy.
What made you decide to diversify your service offering?
That’s an interesting question, the reality is that Eswatini is a small market, so focusing on one discipline can be detrimental to your business in some instances. It also helps to provide all the services under one roof, as it strengthens the value chain of your business.
How tough has running the business been for you?
Hahaha… I will not lie to you it has been tougher than I expected. I mean I expected it to be tough, just not this much. There are days where we have struggled to pay rent but we have survived. We are a start-up company without excessive funding, so it has been challenging. The truth is that it gets better by the day, the first and second years were terrible, it’s better now as we are getting more exposure but it’s still extremely tough.
We have recently been selected by one of the biggest Town Boards in the country to do their Property Valuation Town Roll, which is really pleasing. We have also just been appointed to the Panel of Valuers by a leading Bank in the country. This means we can do Property Valuation for this banking institution’s clients.
Give us an overview of Property Valuation in the country, how big is the market?
There are only a few registered companies in the country offering Property Valuation Services. This is a good thing because of the size of our market. The market is big because we offer services to the public sector and financial services companies such as banks, insurance companies, pension funds, government agencies, regulatory bodies, and others.
We take for granted that Eswatini has a mature and sound financial sector offering a wide array of services. This is good for us entrepreneurs because we end up benefitting through the supply chain. This also means we can charge competitive fees.
Who do you target, is it the public or private sector?
Well, we do not really pick, as I have stated earlier we will be undertaking a project for one of the Town Boards, and we are also going to be offering services to one of the Big Banks in the country, so there are no specifics in terms of public or private sector. Another factor we should be cognizant of is the fact that we have a small but growing economy, so being picky does not apply at the present moment.
We are, however, looking at tapping into the South African market going forward because it is a good and mature market. To succeed in South Africa, one requires a strong network which is what we are working on at the present moment.
What opportunities do you see in the Property Valuation and Real Estate space in the country?
We are positioning ourselves to benefit from the incoming Act of Sectional Titles. We believe that Sectional Title will be a game changer and open up the market for all property stakeholders. Sectional Title will promote affordable housing in the country which will in turn improve the socio-economic landscape of the country.
The more people buy properties the more opportunities we can offer our expertise. So what we are doing as a company is strengthening ourselves by having the requisite personnel and skills so we snap up this lucrative opportunity once parliament endorses it.
What’s the future of Phoenix Property Valuations and Real Estate Consultants?
The end game for us is property development and ownership. We would like to develop and own property in the country and beyond. This is in the residential, commercial, industrial, and retail property space.
Thank you very much Samkeliso for affording us your time.
Thank you very much, it’s been an honour. I hope we can do this again in the near future.
Please note that this article first appeared on Eswatini Property Review, our Sister publication.