Shaping our emerging asset class, together!

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4 March 2024

Divercity Urban Property Group is proud to be a founding member of the South African Multifamily Residential Rental Association (SAMRRA). This association consists of 13 members who collectively represent over R40bn in property assets and a portfolio of over 75,000 residential units across South Africa.

We are also pleased to share that our CEO, Carel Kleynhans, is on the board of this influential group.

The launch of SAMRRA is a significant step forward in growing the multifamily residential rental property sector in South Africa. This asset class includes housing units built to be rented, such as apartment buildings and housing complexes, which are typically managed by expert residential property operators. Multifamily residential properties are globally recognised for their consistent long-term income. For this reason, the specialist property sector is well-established and well-regarded by investors in developed markets like the US, UK, and Europe.

Although South Africa is relatively new to investing in apartments for rent, this alternative real estate asset class has great potential for exponential growth in the coming years. As members of SAMRRA, we are united in addressing the need for high-quality, affordable homes – a demand driven by rapid city growth, rising middle-class numbers, affordability challenges and a general shortage of housing.

Like our fellow SAMRRA members, Divercity is committed to developing and managing rental housing units that offer sustainable and social benefits effectively and with excellence for stakeholders. We aim to shape this emerging asset class into one with resilience and significant appeal for investors.

SAMRRA’s core values focus on advocating for transparent governance and sharing information regarding social outcomes, environmental responsibility and economic impact. It aims to work closely with regulatory bodies, government entities and other associations to represent our collective voice.

Divercity supports SAMRRA’s goals of sustainable investment strategies, steady financial returns and high stakeholder satisfaction.

As we take part in industry events such as the upcoming national showcase tour, we welcome longstanding partners and new parties to explore the benefits of multifamily residential living in our vibrant property market.

Visit https://samrra.co.za for more information.

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By 2030, the UN’s goal is to ensure access for all to adequate, safe and affordable housing and basic services.

Our impact

Over the next five 5 years, Divercity expects to construct more than 10,000 new and green affordable residential units in centrally-located neighbourhoods, expanding housing options close to economic opportunity for low- and middle-income households. Construction of the new residential units will help address the growing housing deficit and issues of spatial segregation in South Africa.

By 2030, the UN’s goal is to develop reliable, sustainable and resilient infrastructure to support economic development and human well-being, with a focus on affordable and equitable access for all

Our impact

Divercity is providing housing in locations that are connected to existing infrastructure, such as healthcare, schools, jobs and parks. This serves to reinforce accessible and equitable cities, as well as strives to break the destructive pattern of South Africa’s apartheid infrastructure and planning.

By 2030, the UN’s goal is to strengthen the resilience and adaptive capacity to climate related disasters

Our impact

More compact cities – enabled through the kind of development that Diversity advances – are associated with substantially lower greenhouse gas emissions, better land-use, and energy and resource efficiency, based on research 1 we’ve done with the Green Building Council South Africa (GBSCA) and Arup. Divercity has a commitment to minimising greenhouse gas emissions and is already supporting climate change mitigation through a range of measures, such as rooftop solar arrays, energy and water efficient design in all of our buildings and EDGE rating of all new developments.

By 2030, the UN’s goal is to ensure equitable and quality to pre-primary, primary and secondary education and lifelong learning

Our impact

Through our Ithemba Upliftment Foundation, we are contributing to early childhood development, enabling hundreds of young children to receive quality education at Daycare Centres in our precnits. This is in addition to the widened access to formal education facilities that are part of our developments, and our efforts in supporting lifelong learning through supporting adult education.

By 2030, the UN’s goal is to ensure universal access to affordable, reliable, renewable and modern energy sources

Our impact

As the cost of renewable energy generation capacity becomes more accessible and affordable, we are integrating these technologies more broadly across our residential portfolio. Divercity is focussed on eco-responsible housing as a viable means to contribute to sustainable and environmentally friendly urban development – through rigorous adherence to green building standards, including the use of energy efficient LED lights, rooftop solar arrays, energy efficient hot water generation and energy efficient building design.

By 2030, the UN’s goal is to encourage and promote effective public, private and civil society partnerships to attain the global goals

Our impact

Our partnerships empower us to champion progressive policy that supports sustainable development. One impactful example of such a partnership is our work with Green Building Council South Africa (GBSCA) and Arup, the global multi-disciplinary firm, on a research project on the enormous environmental and economic costs of the current dynamic of urban sprawl in Johannesburg. Through this project, we developed actionable recommendations for policymakers, investors and other stakeholder groups.
You can read more about the research project, titled: Does location matter? here.