TAILORED TRANSFORMATION: Key Elements and unique features driving B-BBEE recognition in the Property Sector.

The key implication of each Thresholds

The amended property sector code objectives are made to remove barriers that prevent Black people from owning property or participating in the property market.

Promote economic transformation in South Africa’s property sector by building a competitive and inclusive industry that reflects the country’s demographics and advances equity.

The legislation change takes place when the generic B-BBEE codes of good practice change. Legislation change is driven by the aim to improve transformation impact of the sector and South African economy.

Property Sector Code legislation is developed under the authority and guidance of the Broad Based Black Economic Empowerment (B-BBEE) legislation to create a conducive environment and to enable transformation of the property sector.

The Property Sector Code (PSC) is a sector-specific B-BBEE code, gazetted by the Government to set out transformation requirements for the South African property industry.

The Property Sector Charter Council (PSCC) Tuesday Insight is a communication platform that PSCC publishes and shares every Tuesday.

Greetings from the Property Sector Charter Council once again. We hope you enjoyed your holidays, and we wish the best of luck this year.

Economic Development measures the extend of development investment and contribution towards under-resourced areas as a percentage of total annual investment.

Socio-Economic Development measures the extent to which enterprises carry out initiatives that contribute towards Socio-Economic Development or sector-specific initiatives which promote access to the economy for black people.

Enterprise and Supplier Development (ESD) measure the extent to which companies purchase goods and services from empowered suppliers.

Skills Development refers to the intentional efforts by enterprises to provide training and capacity-building opportunities that enhances the technical skills and competencies of employees.

Employment Equity is defined as "means to promote equal opportunity, and fair treatment in employment, through the elimination of unfair discrimination, and the implementation of affirmative action measures.

Management Control measures the effective control of economic activities and resources of enterprises by black people.

Ownership measures the effective ownership of enterprises by black people.