mike eric juru

Valuation Conundrum

Many a time, upon realizing the trade or profession of a new acquaintance, people tend to seek immediate free advice and the author being a property Valuer, the question frequently asked to him is “What is the value of my property in this location with such improvements”. This is one of the most difficult conundrum for the valuation experts, not that they cannot do their work but as the expression goes, “Garbage In, Garbage Out”, it applies in this respect since, without proper instructions for one to understand the context which the value is required and undertaking of the actual inspection of the subject property, one will never get the correct value indication.

Valuation a Purposive exercise.
There is more to giving an educated scientific opinion on the value of an asset than what generally is perceived. Firstly, valuation is fundamentally a purposive exercise and there are various reasons which include; for undertaking a transaction, statutory and regulatory financial reporting, performance measurement, monitoring portfolio strategy, mortgage origination, remortgaging or re-pricing of mortgage loans, risk management, arrears management, non performing loans, asset quality review, taxation for Capital Gains, stamp duty and estate duty. Valuation should thus be fit for purpose, especially in our constantly evolving difficult market.

Valuation instruction
It is thus imperative for a client needing a valuation to meet with the Valuer to discuss and agree upon in writing certain details before the work starts, the information includes but is not necessarily limited to; identification of the subject property, the client and the Valuer, the purpose of the valuation, the valuation date, bases of value adopted, nature and extent of the Valuer’s work which includes investigations and any limitations, nature and sources of information upon which the Valuer will rely on, any special assumptions made, format of report, confirmation that the valuation is undertaken according to International Valuation Standards (IVS) and a statement that compliance with these standards may be subject to our local regulations and a statement setting out any limitations. This information is critical as it enables the valuer to produce a report that is professionally adequate for its purpose after necessary investigations have been carried out.
Kindly take note the bases of value (standards of value) include market, rental, equitable, investment worth, synergistic and liquidation value. The standard allows for the adoption of other bases outside the stated.

Valuation Process
For a Valuer to undertake a valuation, the process involves agreeing on the terms of engagement with the client, investigation (which includes inspection, analysis, market research and public database) data handling and interpretation (processing and calculation, qualification and verification, analyzing) post valuation process reporting (value generation and valuation report) and the main result of this process is a single value presented in a report bearing in mind that the report is much more than just a value but also the ultimate communication tool between the Valuer and the client, it provides the client with independent written confirmation of the value of a property that is neither ambiguous nor misleading.

Valuation skill
Valuers fulfill a pivotal, complex and responsible role operating at the interface between clients, financial providers, and holders of property assets. As such, a competent Valuer must possess a mix of competencies: hard skills such as gathering data through investigation, inspection, and research, tempered with analytical insight, the exercise of professional judgment and people skills. Understanding the client’s needs and expectations, and explaining the use and limitations of a valuation in a way the client understands and accepts, is an important part of the role. The exercise plays a crucial role in real estate related decisions. The generally expected competencies of a valuer include the following; inspection, measurement of land and property, conduct rules and professional practice, client care, communication and negotiation, conflict avoidance and dispute resolution procedures, accounting principles and procedures, data management, health and safety, sustainability, team working and actual valuation

Regulated Profession
Valuation is a regulated profession superintended by Valuers Council under the Valuers Act. The manor and form in which the profession is regulated in Zimbabwe is such that decisions to engage one are based on anything else other than the fees to undertake the valuation since the fees are set in the appropriate scale of fees.

The above draws attention to the fact that getting a value of your property is much more than a simple question to a known Valuer. It actually requires much more and knowing that eliminates part of the valuation conundrum which arises from inadequate instruction, lack of understanding of the skill required and the process involved. It remains a fact, the engagement of appropriate professionals guarantee long term savings and the benefits outweigh the cost associated with acquiring the service without abiding by the best practice. Valuations require hands-on competent professionals who are equipped to adequately provide valuable advice for decision making. (Source rics.org)

By Dr. Mike Eric Juru

for sale

Home ownership – Build or buy and renovate

The current fuel situation while unwelcome has made me realize people crave for information and guidance and they at the same time make use of every opportunity available to ask and seek clarification. As car owners patiently wait for the precious liquid, friendships are created, conversations take place, advice is given, and life goes on. In the last week as I was in a fuel queue, people were talking about property values and the arguments had all sorts of dimensions. As I pursue my newly discovered talent, I have decided to ink my response to the usually asked question so that in future when asked, I will simply refer to this article. The question frequently asked is “should I buy a stand build my dream home or buy one and renovate”. This is no contest as there is no right or wrong answer. A fact of life is choices are made based on personal circumstances as such there is no one size fits all package. I will share the pros and cons, dos and don’ts of both options and ultimately the choice will belong to you as you will live in your house.

Vacant stands are mostly available in the outskirts of cities or some relatively underdeveloped neighborhoods as such cautious approach is required before buying as the area may never get to be fully serviced or title may never be issued. This ultimately will impact on the final value or the property. The location of a stand has a huge bearing on the final value of the property and also the type of property to be built.

It is important to note upfront that building is a function of cost while buying an existing property, the price (value) is controlled by the size of property, location and market fundamentals. When buying an existing property, the agreed price is final. Construction to some extent is uncertain as unexpected costs crop up and result in budget overruns, raising the risk of creating incomplete structures or substandard finished properties. Unforeseen yet substantial costs include boundary walling, paving, landscaping, standby power, security (electric fence, CCTV, alarms) etc, costs that are not directly related to the building of the actual house. In a nutshell, buying an existing property is thus a known and fixed quantity while building is not, as construction is a process that takes its time and has its own associated risks.

In some situations, the route that is taken by those who choose to build is they adopt the do it yourself approach, in the process becoming the artisan, foreman, contractor and consultant, cutting corners and wrongly concluding that it is cheaper to build than to buy an existing property. This unfortunately compromises on the final product, its value and marketability. Generally, construction costs per square meter are factual in as much a way the value per square meter is known. Houses do not come standard as we have varying sizes and types, i.e low cost and high end types of properties which cannot be compared. It may be worthwhile considering hiring competent people or firms to help ensure that the house is constructed to standard and to the expected value of that size, area and location

A construction project requires design consultants such as Architects and Engineers who design and supervise the works and guarantee the final output. In situations where consultants are engaged, at times they are given free unguided role that results in oversized developments that are too costly and not related to the value of properties in the neighborhood. The way around this is to draw up a budget, get the designers to design around the budget and stick to the budget. The concept of value engineering takes center stage.

Tradesmen who put together the various materials have different experiences and their workmanship is never at the same level, background checks and references play a crucial role in ascertaining the likely finishes to be achieved by an individual. In our market, there are also those that claim to do it all. Please ensure you get some checks to ensure the professional can deliver. It may be worthwhile visiting a few of their previous projects and talking to the Clients to get first hand information. The built environment professional and firms are also licensed and getting proof for the registrations is a must.

Newly built properties usually have lower initial maintenance costs making it an attractive investment.  The developer will also build to own taste to meet lifestyle and comfort. Existing properties are sold ‘voetstoets’ at times with invisible defects at the time of viewing which could end up costing a lot of time and money in repairs. Further, the design, layout and finishes may not be in line with one’s personal taste or the latest fashion trends and renovations may be too costly and also that they may result in overcapitalization meaning the improvements maybe beyond the market value of the property.

It’s not all doom and gloom when buying an existing property, the major advantage is that, what you see is what you get, one can obtain expert advice on existing structures if there is uncertainty about the structural aspects. Defects and poor workmanship can be inspected for quality. Some of the critical elements like foundations and structural elements are already covered and the defects can only be uncovered by expects. It may be worth investing in thorough professional checks. If a property is bought at a reasonable price, it could be cost effective to renovate giving it a fresh and modern feel. One critical factor about an existing house is that one can negotiate the price unlike in construction where one can compromise the final product through negotiated contracts as materials and the finishing will be compromised.

At the end let me highlight the aspect value, value and value. It is important to ensure that the buy or build decision is related to value. Even in situations of high end personalized developments, the construction or purchase value is important. For new development, remember at some stage the property may be sold, leased or disposed of and the value must be recovered. The built environment professionals must also be guided to ensure the product retains value or is of value. For new developments, value must cut across the structure. The finishes must fit the value. Avoid the usual dilemma where the projects start with good funding and the superstructure is sound. At later stages when the finances are used up, the finishes and fittings most likely get compromised. Fortunately or unfortunately, these finishes and fittings are what remain visible and attracting to buyers or admirers of our property. Do not compromise on finishes and fittings!

When all is said and done, the use of property professionals guarantees success in acquisition and development, the cost associated with the process is outweighed by the benefits accrued in making beneficial decisions. As mentioned in my last article of the 23rd of May 2019, property requires hands on competent professionals and with the right partners, success and satisfaction is guaranteed.

– Integrated Properties CEO : Dr. Mike Eric Juru –

 

– Financial Gazette Extract –

Investment

Property Investment Commandments

Without turning this into a religious discussion, commandments in this context are taken as rules to be observed. It is also important to clarify investment and to avoid any doubt, investment involves deliberately allocating resources with a hope of securing returns over the principal amount in the future, based on fundamentals and analysis. Investment is not to be confused with speculation which involves conducting a risky financial transaction with the aim of making huge gains from a single transaction. The difference between the two is based on the amount of risk undertaken in the trade. There are various options available in which one can invest in, such as stocks/equities, money market, bonds and property. A deliberate choice to discuss property has been made in view of how it is misunderstood and the exposure of the industry to bogus practitioners.  The biblical commandments are numbered whereas the property investment commandments are not and remain just as simple guidelines.

Opinions are created and can be argued but facts being stubborn cannot be ignored, as such, when investing in property one of the most critical aspects to be complied with, is making decisions based on facts and avoid putting emotions into it. Clarity of purpose in defining the objective and risk tolerance in property investment ranks as one of the most critical considerations. There are two main aspects which are, cashflow/income and capital growth/value retention. Typically, pension funds would naturally be interested in income producing real estate in view of their obligations on monthly payouts since, they hardly exit to realize the capital gains whereas fund managers are likely to focus on capital growth as they move funds chasing short term gains. Nonetheless there are properties that can address both scenarios. Further, there is a simple yet common oversight that happens when especially couples are looking for a house, focus is diverted to petty issues such as green garden, colour schemes, kitchen fittings against the location, size of property/improvements, etc,. Key issue is, there is need to focus on the bigger picture than anything else.

It is always important to undertake a prepurchase due diligence assessment before committing and risking loss of money through basic yet common oversights such as ascertaining the structural integrity of the property, its age and condition, the legality of the registration of the land which can be verified at the Surveyor General’s Office, the property ownership through the Deeds office and the permissible uses of the property as defined by the local town planning scheme, which gives ideas on possible further developments that can be done. It is important to note that, older buildings would require additional capital expenditure for renovations to extend their lifespan and attract tenants. Further, they also require intensive maintenance which weakens the performance of the asset. Properties naturally wear with time and would require rejuvenation through refurbishments and planning for such expenditure is a necessity.  Patience is a virtue and an unavoidable exercise in property investment since by its nature, property is a long term investment with significant gains realizable in the fullness of time.

If acquiring property, appropriate funding is critical being mindful of property cycles, voids and fluctuating interest rates, these have repercussions and present a high risk of putting any plans off track. The need to invest in information assists the unfortunate scenarios.

In more ways than one, investments need to be looked after just as equities need stock brokers and management of the entities invested in, as well as the banks and regulators involved in the management of money market instruments and bonds, property requires hands on competent professionals for active management of the property in the form of transaction advisors, valuers, estate agents, property managers, etc,. Further, there is need to understand the costs associated with the services so as to factor them in the feasibility and performance analysis.

All investments have their known upside and downsides, property remains superior on hedging against inflation, its physical nature barring catastrophes such as cyclones, provides peace of mind and has longevity. That said, with utmost care and diligence in embracing the rules of engagement and commandments of property investments, success is guaranteed.

– Integrated Properties CEO : Dr. Mike Eric Juru –

 

– Financial Gazette Extract –

Built Environment

The Built Environment: The overlooked sector

This column, the first of the many to come, is envisaged to raise awareness and trigger debate on issues needing urgent address to the wide cross section of readers in their various forms such as practitioners, consumers, owners, regulators, authorities, financiers as well as being informative and educative, all within the Built environment and draw attention of relevant authorities to come together with other stakeholders to redefine the future as desired by all.

Built Environment definition.

The built environment is human made space in which people live, work, produce, recreate on a day to day basis. It can also be simply described as human made surroundings that provide setting for human activity. It has a rich diversity of disciplines which include Environmentalists, Spatial Planners, Land Surveyors, Engineers, Architects, Quantity Surveyors, and Valuers and their combined effort gives the output evidenced in Construction and Real Estate which gives direction to the Built Environment.

The above mentioned professions are grouped in their main areas of operation with the first being preconstruction/planning which comprise of services like site identification, feasibility studies, concept design, spatial planning, land cutting, apportionment and zoning, architectural services, costing etc,.

The next operation is construction involving the actual construction and its management. Upon completion, facilities maintenance and ancillary services which involve activities to maintain and renovate the property. Lastly is the disposal, which involves selling of the final product and its subsequent change of hands creating a market. This brings to the fore other professions such as the estate agents and conveyancers. The mentioned operations, happen within the confines of the laws relating to the activities, ownership and finances are required to support and enable the operations.

Built Environment and Economy

The level of activity in this sector arguably reflects the performance of any economy and traditionally, it is acceptable as a measure of wealth and means in which wealth is stored and protected. Further, the sector represents a substantial amount of capital in the form of investment for any economy and is the bedrock that supports the financial services sector from the perspective of collateral provided against loan advances. The sector contributes directly to GDP and ultimately its supply chain creates employment.

Challenges

Broad challenges that are unavoidable in any discussion pertaining to the built environment include the ever increasing population, globalization, resource scarcity and climate change.

Population is growing through natural means and migration, with globalization, boarders are fast disappearing and the need for accommodation is rising on the background of limited land to develop the housing which unfortunately is competing with other uses like agricultural for food production. Construction materials from the bricks and tiles made of clay or blasted rocks (cement), the sand abstraction, steel processing, timber production, power requirements etc., are all but finite resources which in one way or the other, their production impacts on the environment resulting in climate change, a process that realistically reverses all the gains just as we witnessed the effects of Cyclone Idai. In a nutshell the future is not as we used to think of it and this requires a paradigm shift in dealing with the built environment. A deliberate conscious effort is required to balance out various conflicting interests.

Thus as the world continues to evolve, as driven by the waves intersections of technology, demographics and globalization, business as usual is not an option.

Buildings of the future will have to stand up to new different challenges but bearing in mind that many of these already exist as their lifespans are long, the need for innovation and creativity to make the built environment fit for purpose cannot be over emphasized, hence the need for collaboration both between various groups of professionals within the built environment sector and external stakeholders that would then enable sustainable development to take place.

Solutions are proffered from a position of either financial prowess, technical knowledge and expertise and above all the hunger and desire for a better tomorrow and the later will always guarantee success.

Priorities take their toll on the overlooked yet critical sectors and from where the writer stands, the built environment sticks out as the most neglected sector yet without it no nation will ever prosper. This is in no doubt a national agenda item as in its discussion one cannot separate involvement of Government at both national and local level, Society, Customer, Environment and Business. The unique dynamics of the Built Environment make the planning, delivery and management of property demand long term vision which unfortunately may be difficult to establish in a rapidly changing world.

 

Further challenges which this column would seek to discuss include professional competences, planning and enforcement, use rights and ownership, access to capital and economic barriers, market organization and funding, energy use in buildings and construction, waste management and noise pollution, unsustainable construction materials and responsiveness of building to site conditions amongst other issues affecting the development of the nation from the built environment perspective.

The writer will endeavor to discuss issues cross cutting the built environment highlighting the global best practice, experiences in other successful nations and the reality of our situation drawing attention to the urgent need for specific action required to address the gap.

A progressive world operates optimally accommodating divergent views as such readers are free to submit their comments to the editor and or writer’s email. All efforts will be made to sustain the column for the benefit of the various professions involved in the Built Environment and its stakeholders.

 

– Integrated Properties CEO : Dr. Mike Eric Juru –

– Financial Gazette Extract –

SHEQ

Integrated Properties SHEQ Policy

SAFETY, HEALTH, ENVIRONMENT AND QUALITY POLICY

Our vision is to be a world-class Real Estate business that dominate all the markets we serve and dedicated to create and unlock value for our stakeholders through provision of unique customer oriented Real Estate sustainability solutions. This is achieved through implementing and meeting requirements of ISO9001, ISO45001 and ISO14001 within its scope, as follows; Valuation and Advisory Services (VAS) , Corporate Real Estate Consultancy (CREC), Real Estate Sustainability Advisory Service (RESAS), Structured Real Estate Finance (SREF), Engineering and Construction (EC) and all support functions.

Download full policy….

Sustainability

Background of sustainability

“What happens when vast population growth endangers the world’s food suppliers? Or our water? Our energy needs, climate, or environment? Or the planet’s biodiversity? What happens if all become critical at once? Just what is our future?” ANTHONY D. BARNOSKY , ELIZABETH A.HARDLY

It has always been important to look after our local environment if only so that we can pass on to our children and grandchildren an environment at least as good as we have enjoyed. Today, however, it is not just the local environment that is at risk but the global environment. The first point of contact is to ask oneself what the word “sustain” actually means. The basic definition of sustain is to strengthen or support physically, to keep in existence, maintain, continue or prolong. No one can dispute the fact that in order to gain something one has to exploit something. Human beings in order to survive need to be productive, it is from this productive side that resources are expended and utilised to achieve goals at personal, corporate level and national level. Sustainability thus involves biodiversity endurance after disturbance from human activity.


Sustainability is the ongoing process of reaching the goal of having a durable balance between environment, society and economy whereas sustainable development is the process of achieving the goal of sustainability incorporating development that meets the needs of the present without compromising the ability of future generations to meet their needs. It is critical to note that he two cannot be separated from each other. The sustainability issue has become a bolder topic in the last century because of so many human persuaded problems like production of the carbon dioxide that enters the atmosphere from the burning of fossil fuels, coal, oil and gas, which lead to damaging climate change. Pressures from rapidly increasing world population and from over-use of the Earth’s resources are also making such problems much more acute and exacerbating the damage both to the natural world and to human communities. The perils of human induced climate change are now recognized much more widely. It is frequently described by responsible scientists and politicians as probably ‘the greatest problem the world faces’ and as a ‘weapon of mass destruction’. Global pollution demands global solutions.


Historically, the society was determined on creating wealth and money with no persuasive motive to consider then environmental implications. Ebenezer Howard in 1898 and 1902 in his book Garden Cities of Tomorrow attempted to reform the planning system by introducing “green cities” which detailed having a built environment furnished by air, sunlight and breathing room (open spaces). It is unfortunate the works of Ebenezer Howard not fully embraced, as they would have been the stepping-stone to sustainability. From Lewis Manford’s line of thinking green cities outline a more integrated foundation for an effective urban life which has its roots in sustainability.


A lot of literature in the mid-20th century pointed on the existence of environmental costs with the environment increasingly becoming depleted because of the need for energy. Many countries became depended on non-renewable resources from fossil fuels in order to power up their economic projects. According to the Hartwicks’ rule the rise of sustainability issues emanated from the need to balance off the amount of investment produced by corporates or individuals in any given economy and the stock of the non-renewable resources. In support of this notion Hamilton and Artinskon (2006) iterated that a country requires to have “positive value” which is reflected by the ability to have long run economic sustainability. Kapula (1990) in his paper highlighted that conversation and economic development should go hand in hand and that the two should never be separated.The issue of sustainable development emanated from the need to rationalize the rising problems faced globally which have triggered the issue of sustainable development and the problems are as follows:


1.1 Global Warming and Climate Change
Changes in the chemical composition of the air create a hothouse effect. A shield in the upper atmosphere prevents heat generated at the surface from escaping into the surrounding space. Global warming is an indisputable fact; in recent years the average global temperatures has risen significantly and the warming trend is accelerating. And the climate model show that even minor changes in the atmosphere can produce major effects, including widespread harvest failures, water shortages, increased spread of diseases, the rise in sea levels and the die out of large tracts of forests. Unsettled weather patterns due to warmer air masses have already caused major damage on the planet. The fact remains that global warming is igniting climate change and ecological stress and thereby reducing the chances of well-being throughout the planet. Lastly it is important to note that the rapid injection of carbon dioxide makes it impossible for the earth’s systems to adjust.


1.2 Population Growth
Overall population growth in developed countries is not as high as it is in developing countries, but numbers needs to be reduced to sustainable levels since the Earth’s size remains the same. Scientific data now indicates that humans are living beyond the carrying capacity of planet Earth and that this cannot continue indefinitely. People move out of city centers because they can no longer afford high inner-city housing costs or to find more pleasant surroundings. In addition, people who cannot find employment in rural areas migrate to the cities.
There needs to be a policy, which discourages population movement into suburbs causing urban sprawl. Instead of creating ever-expanding mega-cities, there should be an emphasis on establishing independent towns and smaller cities where there are employment opportunities.


1.3 Loss of Productive Land
Progressive reduction of the amount of land capable of producing food is another threatening trend. It is evident that the quantity of productive land is decreasing due to soil erosion, destructing, compaction, impoverishment, excessive desiccation, accumulation of toxic salts, leaching of nutritious elements, and inorganic and organic pollution owing to urban and industrial waste. In many parts of the world, this trend augurs major food shortages. The small land left is further diminishing due to further urban sprawl.


1.4 Deterioration of Air Quality
The way in which we pollute the atmosphere is very unsustainable. The amount of air that humans, and even all organisms taken together, need a minuscule compared to the size of the atmosphere that surrounds the planet. However, here is a question of quality rather than quantity. Polluted air and air of inadequate oxygen is of very little use. Yet the oxygen content of the atmosphere is diminishing, and its carbon dioxide and greenhouse content is increasing. The influx of gases due to industrial services is matched by the growing influx from nature, indirectly and unwittingly triggered by human activity.


1.5 Decrease in Water Quality
Water is a major element in the cluster of ecological unsustainability. The amount of available fresh water is diminishing rapidly; over half of the world’s population faces water shortages. Already today about a third of the world’s population doesn’t have access to sufficient supplies of safe water, and by 2015, it is projected that two thirds of the population will live under the conditions of critical water scarcity. It is also saddening to note that the worst hit continents will be Africa and the Middle East.


1.6 Over exploitation of Resources
The rising curve of human demand is beginning to exceed the descending curve of global supply. This is unprecedented. In the past, humanity’s demand has been insignificant in relation to the available resources. Even if local resources have been occasionally exploited, people could conquer new territories and find new resources. Today there are no new virgin territories left to conquer. Human consumption is nearing the planetary limits. Not the sheer size of human population is the problem, but its per capita resource use. Since the amount of land remains constant, human requirements have grown so much in the last 30 years. Today the optimum use of every square metre of the land available could satisfy the basic needs of the human population on a sustainable basis.


1.7 RICH – POOR GAP
Eighty percent of the world’s domestic product belongs to one billion people, and the remaining twenty percent shared among almost six billion people. Poverty has not diminished in absolute numbers and this has forced the people to revisit their economic models from the sustainability perspective. This also is coupled with the instability of the world’s financial system which is viewed as a major element in the cluster of economic unsustainabilities. This deep fault line that divides human society between the rich and the poor and the ever-increasing gap between the developed and developing worlds pose a major threat to global prosperity, security and stability.
We risk the entrenchment of these global disparities and unless we act in a manner that fundamentally changes their lives the poor of the world may lose confidence in their representatives and the democratic systems to which we remain committed, seeing their representatives as nothing more than sounding brass or tinkling cymbals. It is up to us to act or sleep on this matter of unsustainability, which has become cancerous to the world’s future.


Article Produced by Mr J Chiteka (SHEQ Officer)

Integrated Properties ignites the Real Estate Industry!

INTEGRATED PROPERTIES, from its inception developed a penchant of setting the course in uncharted territories within the Real Estate sector. They recently scored a first by attaining three ISO Certifications at the same time, becoming the first Real Estate Consultancy in Zimbabwe to achieve such. In 2013 they became the first to attain the ISO 9001:2008 Quality Management System and they recently managed to meet the rigorous requirements to comply with ISO 14001 Environment Management System and OHSAS 18001 Occupational Health and Safety. The three standards are a mirror image of the sustainability pillars which are Economic, Social and Environment as well as the triple bottom line principles of People, Planet and Profit. What makes this achievement remarkable is the fact that ISO Certifications are neither mandatory nor easy to attain, all what one requires are resources, sacrifice and exceptional commitment.

While the prevailing economic challenges could have been a deterrent to work towards the certifications, the desire for embracing globally acceptable “best practices” could not stop the initiative and conviction. Integrated Properties are not new to achieving firsts in business as they have won several awards since 2011 when their CEO Mr. Mike Eric Juru was awarded the ZNCC Entrepreneur of the Year and then in 2012 he was further awarded the Director of the year award by the Institute of Directors Zimbabwe.

In 2013 the organisation was recognised and awarded The Customer Service Excellence Award by the Zimbabwe Institute of Management and were also awarded the Company of the year award at the 2013 National Annual Quality Awards. Another significant recognition came when they won the SADC Company of the year at the 2014 SADC Annual Quality Awards. The achievements clearly demonstrate the calibre of leadership found at the organisation.

Their latest achievement gives their clients assurance of quality provided by an organisation that has respect of the environment as well as the workforce and communities in which they operate in. It is also capacitating them to move away from generic Real Estate products/services and riding on the latest innovation wave that has hit the first world, that of greening products and services to achieve organisational sustainability. To that effect, they have upgraded their product lines as follows;

Sustainable Valuation from Valuation & Advisory Services Green Leasing from Property Management Green Urban Design & Development from Town Planning Consultancy Green Construction Management from Construction Management and lastly, they have introduced a new product line Environmental Impact Assessments.

Their new products are a new phenomenon in the local market, they advocate for energy efficiency, water conservation, recycling, reuse and reduction of materials which all ultimately help in management of financial resources and the environment. Furthermore, demonstrating how they have infused innovation for relevance in a fast changing world as well as demonstrating their flexibility to adapting to necessary changes within their sector.

In an interview with the Founder and CEO of Integrated Properties, Mr Mike Eric Juru he said “we cannot continue to live and do business as usual as if there is another planet in the making”. He further conceded to the fact that the built environment is responsible for more than 40% of Global energy use and a third of global greenhouse gas emission hence as consultants in the Real Estate Sector, they saw it fit to implement ISO standards that would help the organisation play its part in reducing ozone depletion and environmental degradation.

Interestingly, where one would imagine that armed with the three ISO certification, Integrated Properties would rest, Mr Juru confirmed that “the greatest news to our clients and stakeholders is that, we are not stopping with these three systems, NO!! We are already working on other critical and relevant Management Systems like Enterprise Wide Risk Management System and Business continuity which would make Integrated Properties an undoubted ‘going concern’ and would give confidence to all stakeholders. Thanks to our strategic partners in ISO Management Systems development and implementation, Standards Association of Zimbabwe and Premierlink Services, who are resolute to our quest, having moved us from Red Oceans to the Blue Oceans and now destined for the Clear Space, within our vision.

Some people may wonder why all these systems and the answer is very simple. We are geared towards being a World Class organisation complying with best practice and strategically designed and capable to support organisations to comply with the requirements for Global Reporting Initiatives and the National Code on Corporate Governance Zimbabwe (NCCG). It is no longer time for trial and error, but an era for strategic systems thinking. It is therefore a key investment that we are making today for the benefit of our stakeholders into the long future.”

– staff reporter-