Industry Africa November - McCormick Property

MCCORMI CK PROPER TY

At the top of the Ladder

Getting on the first rung of the property ladder is a feat that many people can only dream of, which makes it all the more impressive that McCormick Property Development is sat on the very top step of the South African retail developments industry.

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McCormick Property Developments

At the top of the ladder Victoria South

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Getting on the first rung of the property ladder is a feat that many people can only dream of, which makes it all the more impressive that McCormick Property Development is sat on the very top step of the South African retail developments industry.

McCormick Property Developments

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Established

in 1983, McCormick Property Development (MPD) has seen it all. From retail booms through to global economic turbulence and the rise of online shopping, every trend has been identified, tackled and overcome and now, the company holds a leading position in the South African property market. Bolstered by winning an International Property Award, the team has always had a keen interest in developing emerging markets and continues to focus on this aspect today, but that’s not the only original facet that has remained.

Developments with heart

Brought into being by John McCormick, Chairman of the company, MPD had a mission directive to develop retail property areas in rural South Africa, but for the good of the communities that were in close proximity, not regardless of their existence, as is so often the case with irresponsible and emotionally noninvested operations. As John says, “We create wealth and employment by developing not only real estate, but entire communities in the process.”

Of course, local people will always benefit from new retail parks opening, as jobs will be created within easy commuting distances, not to mention the convenience of having amenities close to residential addresses, but it’s the way that MPD operates that really seeks to protect communities.

Cited as being a “communityfocussed company striving to become the premier development company of South Africa”, MPD operates within strict parameters of honesty and integrity, as the team recognises the importance of word-of-mouth recommendations and they are only offered to those operations that set themselves higher standards.

Award-winning services

It serves MPD no justice whatsoever to simply skim over the fact that the company has won an exceptionally prestigious International Property Award, as the stakes are high and the competition fierce, meaning that winners should be applauded for truly being the best in the fields, “The International Property Awards are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating in all sectors of www.industryafrica.net | 29

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McCormick Property Developments

the property and real estate industry.

An International Property Award is a world-renowned mark of excellence.”

Winners are given permission to use the recognised mark of the International Property Awards on their websites and within their marketing, which everybody does.

This should tell you how prestigious the accolades actually are and MPD is a proud African winner. The awards organisers explain that, “The awards are given for the quality of design, construction and presentation of individual properties and property developments, interiors, architecture and marketing. The awards are not an endorsement from any sponsor or judge but are a recognition of achievement in a particular category or discipline by an expert judging panel.”

Community support, economic growth and globally recognised industry excellence. What more can MPD possibly hope to achieve?

Looking ahead

Speaking with Jason McCormick, Managing Director of MPD, revealed a lot about what the future looks set to hold not only for the company, but also for the property development

Jason McCormick, Managing Director of McCormick Property Developers

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McCormick Property Developments

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industry as a whole. While growth and expansion are normally the main focal points, Jason feels that the market is going to normalise first, allowing for a period of stability. This will certainly come as a relief to smaller companies that may have been struggling to get a decent foothold, but what about MPD? Jason isn’t concerned about losing any ground, as “protecting our position in the market” comes as second nature to everyone in the organisation.

This approach has clearly been working, as MPD has a staggering R5.5 billion in owned assets, with a number of exciting new projects soon to be finalised or confirmed. Chief amongst the new developments is the opening of the brand new 13,601 m² Mahlakung Shopping Centre in Limpopo that has been completed and final approval on a seriously impressive development in Pretoria West. The 60,000 m² Capital Mall and 14,500 m² Capital Value Centre promises to be something absolutely exceptional, not least because it is MPD’s largest project since its inception. Jason commented that, “This isn’t just for commercial www.industryafrica.net | 31

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McCormick Property Developments

“This isn’t just for commercial benefit, we are changing lives.” benefit, we are changing lives.”

Speaking about developing the company, the notion of expanding into Africa was brought up and while this clearly isn’t the most pressing concern, Jason did reveal that MPD has a few “irons in the fire”. Having recently been listed on the Johannesburg Stock Exchange, MPD is in a good position to look a little further afield for potential projects and so far, Mozambique and Zimbabwe have both piqued the interest of Jason and his team, but nothing concrete is in place yet, so it’s a tantalising case of wait and see.

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As an extra glimpse into the future of MPD, Jason didn’t shy away from revealing that greener endeavours are firmly on the minds of the entire management team. Naturally, in this day and age, showing a commitment to environmentally sound policies and procedures is more than just optional; it’s essential for any company that wishes to be taken seriously. Jason was keen to highlight the fact that MPD was currently investing millions into researching and developing greener business endeavours. It will certainly be interesting to see how this translates

into South African malls and shopping centres of the future.

A family business, MPD has a unique take on who is part of the clan, as local communities are always included. Consistently seeking out opportunities to develop rural areas in order to bring economic growth and employment into the region, this is not a property development organisation as you normally think of them. As Jason said, MPD is changing lives and, if current and proposed projects are anything to go by, the landscape of retail property forever, which is why it’s at the top of the ladder.

McCormick Property Developments

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