LL.M. / Please refer to full text to view abstract

This Research Report is submitted in fulfilment of the requirements for the degree of Master of Science in Property Development and Management to the Faculty of Engineering and Built Environment, University of Witwatersrand, Johannesburg, 2016 / The two main traditional revenue streams for airports are aeronautical and non-aeronautical revenues. In recent times, factors such as the slowing economic growth, terrorism threats, aircraft fuel hikes and fierce airline competition have contributed in reduced aeronautical revenues. The decline in aeronautical revenues has seen a shift of focus where most international airports now pursue business strategies to increase their non-aeronautical revenues. Airports in developed countries such as Schiphol, Brisbane, Adelaide, Canberra, Perth are recorded in literature to have shifted their focus to exploit the vast undeveloped land within the airport precincts through enabling the undeveloped land to be taken up for commercial property developments. This has allowed these airports to increase their non-aeronautical revenues in light of the declining aeronautical revenues. In South Africa, Airports Company South Africa (ACSA) announced its intention in year 2010 to unlock undeveloped airport land for commercial property developments within the nine airports that it operates. At O.R. Tambo International Airport (one of airports owned by ACSA), ACSA publicly announced the availability of pieces of land within the airport which can be taken up for commercial developments by private investors. One of the pieces of land is located in close proximity to existing airport adjoining residential houses in a suburb called Bonaero Park. Authors in existing literature have discussed availability of both positive and negative proximity effects of commercial properties on adjoining residential houses. This study researched the proximity effects of one of the proposed commercial property development at O.R. Tambo International Airport (ORTIA) on the houses in Bonaero Park through analyzing houses sales data of the suburb in the period of 2006 to 2014. A pre-announcement period was defined in the study from 2006 to 2010 and a post-announcement period defined from 2011 to 2014. House sales data from both the pre-announcement and post announcement period was analysed using quantitative methodologies. Qualitative data was gathered through conducting audio recorded interviews with Estate Agents who conducted house sales in Bonaero Park. Findings of the study reveal that the at both the pre-announcement and post-announcement periods, the South African residential property market was going through a tumultuous period which revealed that the announcement by ACSA to unlock the piece of land located in close proximity to the residential houses in Bonaero Park did not produce positive or negative proximity effects. / MT2017

A research report submitted to the Faculty of Engineering and the Built Environment in partial fulfilment of the requirements for the degree of Master of Science (Building), University of the Witwatersrand, 2016 / South Africa implemented the REIT structure in 2013 with the intention of encouraging local and international investment. A year after implementation South African listed property was reported to have performed better than the UK, European, and Asian REITs. This report assesses the initial performance of South African REITs and their portfolio diversification benefits when paired with Shares, Bonds, T-Bills, and other Listed Property in a mixed-asset portfolio, over the period May 2013 to December 2015. The findings show that REITs are the second best performing asset, risk-adjusted. REITs are a return-enhancer when included in a mixed-asset portfolio, and tend to contribute at the higher end of the risk spectrum. This reports contributes to the few that exist on emerging markets, it is a study of the only major REIT market in Africa, and is significant as it discusses South African REITs from their implementation. / MT2017

A research report submitted to the Faculty of Engineering and the Built Environment, of the University of the Witwatersrand, Johannesburg, in partial fulfillment of the requirements for the Master of Science in Building, Property Development and Management. Johannesburg, 2014 / Purpose: The primary aim of this research is to establish an awareness of CRE as an instrument for branding and determine which aspects of CRE may contribute to and even strengthen the corporate branding of companies. Design/Methodology/Approach: Comprehensive literature review, together with a quantitative analysis of an in-depth questionnaire survey sent to owneroccupier companies and qualitative analysis of semi-structured interviews with industry professionals. Findings: Not all aspects of corporate real estate are equally important when considered in relation to corporate branding, furthermore the importance of these aspects vary between the different owner-occupier groups surveyed. Research limitations: this research was limited to a relatively small group of owner-occupier companies that occupy recently developed buildings in the primary office nodes in Johannesburg, South Africa. Practical implications: The primary objective is to aid corporate real estate managers and developers in better understanding how the strategic positioning and intrinsic aspects of CRE can influence the corporate brand of a company. Originality and value: This research identifies and ranks the different CRE aspects that could be utilised as part of a corporate branding strategy, no concluding evidence has been established as to how the identified aspects can be used as part of a corporate branding or corporate real estate strategy. Recommendations: Further research to establish how the identified corporate real estate aspects could potentially be implemented as part of a branding strategy or CREM strategy. Keywords: Real Estate, Branding, Strategy, CRE, CREM.

Thesis is submitted in partial fulfilment for the degree of M.Sc. (Building) in Property Development to the Faculty of Engineering and the Built Environment, School of Architecture and Planning at the University of the Witwatersrand, Johannesburg, 2017 / The lack of entrepreneurship is an obstacle to economic development. In South Africa (SA), disciplines are taught in a context that is enterprise-based, with no emphasis on the need to impart business start-up skills within specific disciplines. A culture of entrepreneurship is lacking, resulting in low records of entrepreneurship incidents in SA. The challenges and/or benefits of integrating entrepreneurship education within the South African real estate (RE) course and its effects on graduates’ entrepreneurial intent, is not well understood. The purpose of the research is to investigate whether the introduction of entrepreneurship education within the RE discipline would encourage graduates to become entrepreneurial in the practice of real estates. A mixed methodology approach has been used in this research. Primary and secondary research data has been made available in the form of questionnaire surveys of graduates and course directors/lecturers from the University of the Witwatersrand and other international universities that have entrepreneurship education embedded within their real estate programmes, as will be selected by the researcher. The research has found that both pedagogical strategies of course work and applying experiential learning teaching methods would be required to effectively integrate entrepreneurship education within a real estate programme in a manner that would stimulate graduates to be entrepreneurial in the practice of real estate, although it was not known whether the graduates would actually start businesses and when they intended to do so. It was also found that those students whose studies took place in real estate programmes that had entrepreneurship education embedded in them were more commercially aware. The integration of entrepreneurship education also resulted in an improvement of graduate self-esteem and confidence. Graduates were endowed with adequate professional, interpersonal, technical and business skills. The research, however, found the majority of real estate courses lacked in teaching graduates to be more versatile. The courses largely lacked in the provision of industry exposure and were inadequate in teaching graduates how to market themselves and their real estate businesses. According to the findings on the individual entrepreneurship test, graduates that studied entrepreneurship-based real estate courses had a higher probability of starting a business. / MT2018

A research report submitted in partial fulfilment of the requirements for the degree of Master of Science in Property Management and Development to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, Johannesburg, 2016 / Purpose – Within the paradigm of consumer behaviour, the purpose of this study was to determine the relative importance of the various property-specific factors that influence office occupation decisions in the decentralized office nodes of Johannesburg. The aim was to provide more definitive information on office space occupation to real estate marketers, managers, investors and owners. Design/Methodology/Approach – A Malaysian study by Adnan et al. (2012) was replicated in the South African context, utilizing their (adjusted) questionnaire survey. After review, Adnan et al.’s (2012) data analysis methods were altered and, in addition, three key-informant interviews were conducted to discuss the results of the survey and to try and gain further insight into the findings. Findings – The three categories that were considered of highest importance were Cost/Financial Considerations, Services and Management. Factors that scored the highest overall were Security & Access Control, Car Parking Provisioning & Accessibility, Electricity Systems & Provisioning and Rental Rate. The categories On-site Amenities, Space Functionality & Atmosphere and Location were considered of least importance. Research Limitations/Implications – The study was confined to property-specific factors and limited to tenants in P-grade, A-grade and B-grade office buildings in the decentralized office nodes of Johannesburg. It also took place during a specific stage of the South African economic cycle. Further research is required to determine the impact of office grade, firm type, firm size and economic climate on office occupation decisions. Originality/Value – No research on this topic exists within the South Africa context and this study contributes to the limited research, internationally, on real estate within the consumer behaviour paradigm. / MT2017

The intention of this dissertation is not to embark on a discussion on the desirability of a property clause, nor to undertake a full analysis of the property and environmental clauses as they appear in both the interim and working draft constitutions. Instead it is my intention to analyze the inherent conflict that exists between property rights, specifically ownership, and environmental conservation. This will be assessed against the backdrop of the common law, case law and in the light of both the interim and working draft constitutions. Due to the fact that the terms "deprived" and "expropriate", as used in both constitutions, broadly correspond to the concepts of police powers and eminent domain, and since measures taken in the name of environmental conservation are invariably carried out under the auspices of the States police power, it is necessary to :- (a) assess the "deprivation"-"expropriation" conflict and emphasise the ambiguity that can arise in interpreting and differentiating between the two terms; (b) draw a distinction between police power deprivations and expropriatory deprivations. Foreign jurisdictions have experienced grave problems in drawing this distinction, which has been further exacerbated by the concept of inverse condemnation. U.S takings jurisprudence is analyzed to elicit the resultant chaos which will emerge if the courts do not come up with an adequate solution. A possible solution is offered which will provide the courts with an analytical framework within which to work; and (c) assess, although to a lesser extent, the courts ability to review Parliamentary enactments and administrative action. / Thesis (LL.M.)-University of Natal, Pietermaritzburg, 1996.

Thesis (MA (History))--University of Stellenbosch, 2007. / A cultural landscape is a geographical area that includes the associations of cultural and natural resources of historic events, actions, person or groups of people. A cultural landscape gives one a sense of belonging. It explains relationships between man and land over time; it is part of a national heritage and part of every person’s life. The value of cultural landscapes is vested in the fact that they include a variety of diverse environments. The motive of selecting this subject for search is the prominent disregard of existing culture in certain cultural landscapes and creation of new artificial cultural landscapes with profit exclusively as its main goal. One of the aims of the study is to look at the threats of cultural landscapes. The concept cultural landscapes is extensively explained in context of its advantages and disadvantages. Sustainable tourism development is closely connected to sustainable development of heritage sites. Local government should therefore develop a cultural tourism policy in collaboration with private stakeholders and local residents as a matter of priority. The focus is on the balance between values of cultural heritage and potential economic opportunities for local communities. The procedure of the declaration of World Heritages sites is also dealt with. The purpose of the case studies is to use local examples in order to reflect the situation in the Western Cape with respect to cultural landscapes. Two cases of cultural landscapes were researched, namely the Karoo Heritage Landscape’s upgrading of the golf course in Oudtshoorn with a proposed new housing development, and a proposed development and extension at the Boschendal Farmers Estate in the Franschhoek district. Guidelines and examples for managing the models for conservation of cultural landscapes are given, which include natural and cultural resources as well as the concerns of the local communities. The need for a global strategy is strongly emphasized. UNESCO’S World Heritage List of Cultural Landscapes is attached as an appendix.

This study explores a number of issues relating to the nature and scope of intangible heritage and critically examines some of its salient components in South Africa. It affirms that intangible heritage is socially constructed. Aspects of intangible heritage that seem inherited in the present are social constructs and products of social progression. They present the historical development of the practicing communities. Furthermore, this study affirms that all heritage is intangible. This is expounded in the study by exploring the history of the concept of intangible heritage over the decades which provide its evolution both at international and national levels, and within heritage institutions. Heritage cannot be understood and defined in terms of traditions, indigenousness, pre-colonialism, North and South dichotomies or Western and non-Western dichotomies. This definition would racialise and regionalise heritage, and politics of indigeneity would surface. The separation of tangible, intangible and natural heritage is an artificial demarcation that is for heritage management discourse.

Thesis (MTech (Public Management))--Peninsula Technikon, Cape Town, 2002 / Restitution is a constitutionally mandated programme aimed at redressing the injustices of the apartheid era. Land rights are being addressed via a legal administrative process in order to make some form of reparation. The mission of the Commission on the Restitution on Land Rights is to have persons or communities, in the Western Cape province, who were dispossessed of property after 19 June 1913 as a result of past racially discriminatory laws or practices, restored to such property or receive just and equitable redress. The restitution process is the first programme in South Africa that aims to restore people to the land from where they were dispossessed. The processes and procedures involved are very complex, which could result in slow delivery. The research attempts to determine the impact of monetary compensation as a form of land restitution on the current life-styles of Paarl residents. The research will focus on financially settled claims. The reason for selecting Paarl as a case study was because of the demographics and diversity of the region. This study also includes the history of forced removals in South Africa as well as the local international restitution processes. The study has a descriptive approach. Primary data will be collected by means of questionnaires based on the living standard measurement. The questionnaires will focus on the life-styles of people prior to dispossession and their life-styles after receiving their restitution awards. This study may provide a positive or a negative critique on the restitution process. The study attempted to determine whether restitution provides a better quality of life to the disadvantaged, displaced people of our country and provides an indicator for future similar endeavours.