Periscopic Masingita: A promising collaboration in the African commercial property arena

Periscopic Masingita: A promising collaboration in the African commercial property arena

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Mark Souris, Managing Director of Periscopic Property Management and Mike Nkuna, CEO of Masingita

 

Masingita and Periscopic Property Management have merged.

It has been said that a truly successful and innovative business strategy is not a solo sport, and indeed this notion holds true with regards to the recent partnership between two of South Africa’s most prominent players in the rural and urban retail property sectors. The highly regarded property management firm, Periscopic Property Management, and the Masingita Group of Companies have announced their merger.  Periscopic Property Management was founded in 2002, and since then the organisation has steadily built a reputation for outstanding practices in property management, with a particular focus on the complex industry of urban and rural retail properties. Periscopic Property Management is managed by some of South Africa’s most respected and experienced property management experts, who oversee an extensive team of highly qualified, capable professionals. Periscopic’s well-regarded operations have proven to be the perfect partner option for another giant in the South African property arena, the Masingita Group of Companies.

Partnership born out of long-standing working relationship.

“Our relationship with Masingita goes back several years, as early as 2004, when we were commissioned to manage a major development of theirs together with Resilient, namely Jabulani Mall. We immediately both recognised the mutual benefits of our two companies collaborating and enhancing each other’s capabilities through our own unique skills,” says Mark Souris, managing director of Periscopic Property Management. “From day one, we have had a great, positive relationship with Masingita, both professionally and personally. We began working with them on more and more significant projects, until our two businesses had become quite intertwined. Masingita’s wide-ranging portfolio of projects is a veritable goldmine of opportunity for Periscopic to really be able to show our capabilities in the field of retail commercial property management, and we’ve seen success after success, which bodes very well for the future of our partnership.”

Masingita’s formidable portfolio an asset to partnership.

Founded by Mike Nkuna in 1983, who now oversees the business as chief executive officer, Masingita encompasses an impressive portfolio within the South African property development and construction industries. “Our connections within various communities, as well as across a wide range of political areas, give our already successful group of companies the potential to grow exponentially in the African market. With Periscopic’s expertise added to the mix, we can really take both businesses to another level. They provide an integral missing link to our formula for success at Masingita, and this is what sparked our initial conversations with regards to merging companies,” Nkuna explains.The 100% black-owned Masingita holds a Level-3 BEE status, received from the highly respected Empowerdex rating agency. The group’s primary area of focus lies within the urban and suburban areas, including townships and rural areas, which afford a myriad sustainable, niche prospects, as well as provides ample opportunity for Masingita to enhance local and rural economic development. The organisation has also expanded their sought-after expertise into the expanded property markets across Africa, within both governmental and private sectors. “We are certainly eagerly anticipating the future opportunities our partnership with Periscopic will present, and believe that the mutual benefits of our collaboration are endless,” concludes Nkuna.

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