African real estate companies Pam Golding International and Golding Hotel investment Consultants (GHIC) – both members of the Pam Golding Property group – have created a new joint venture division called Pam Golding Leisure (PGL).
PGL will specialise in the multi-ownership concept – also known as sectional or fractional ownership – within Africa’s serviced hospitality and leisure sectors.
Speaking to South Africa’s District Mail, Pam Golding Property’s chief executive, Dr Andrew Golding, said: “Over the last few years, GHIC has facilitated in excess of 1bn rand in transactions in the Southern African hospitality and leisure industry.
“After considerable research into sectional ownership, we have identified the luxury hospitality sector as being most suited to our target market.
GHC is currently working on three fractional models all either four- or five- star hospitality sites in the Western Cape. A four-week annual fraction at one property will be priced at approximately 150,000 rand while a floating system will guarantee time during high season.
Managing director of GHIC, Joop Demes, added: “The concept of fractional ownership is not new, but it is one of the most successful real estate options.
“We believe the Pam Golding brand will make this real estate concept a most exciting investment in the hospitality and leisure industry in Africa.” Details: www.pamgolding.co.za
