Collaborating with likeminded people on projects that are sustainable and meaningful to humanity…. This is what puts a spring in entrepreneur Tebogo Mogashoa’s step. Right now, there is no better project to tick all those boxes than the Divercity urban renewal fund, which has combined the talents of Talis Property Fund, of which Tebogo is chairman, with those of Atterbury and Ithemba. Talk about a matter of association! We spent some time getting to know this forward-thinking businessman.
The DiverCity partnerships came together incredibly smoothly; which I believe indicates a very natural synergy. What excited you most about this project?
DiverCity is symbolic of the synergies that exist between the partners. Our shared vision of developing urban precincts in particular and the combined experience that we have as developers in residential and commercial space respectively, have allowed us to identify a unique niche in precinct development in Johannesburg, Pretoria and Durban alike; we find this very exciting!
How did you first meet Louis van der Watt?
We met about two years ago through the game-farming industry. Our friendship developed through this shared interest, and that gave rise to the formal business partnership.
Your business interests are very diverse; where did it all start for you? Tell us about your very first business venture?
My career began in consulting engineering; this broadened my perspective of the built environment, in particular, property development. My first commercial development was the Pan African Mall in Alexandra, Johannesburg. It was a challenging project for its era and it came about in response to the needs of the taxi industry and the community of Alexandra. We started engaging with all the local businesses, and taxi operators, in about 2003. At that stage retail development in townships was in its infancy, and it required a paradigm shift from tenants, retailers as well as commercial banks. The mall eventually opened for trade in 2009, so it was a long haul from concept to completion.
How do you decide whether something fits into your portfolio?
My investment selection criteria respond to investments that have an underlying and sustainable demand. I like investing in industries humanity cannot do without.
Is there one part of the portfolio, one industry, that you feel the biggest affinity with?
Yes, definitely property, because I can feel it, I can touch it, and I can see it.
Tell us more about Talis Property Fund and how it came to be?
The fund has been going since 2003, when I consolidated all my yielding property assets into one company, which today is my main property-investment vehicle. We currently own over 100 000 sqm of gross lettable area of commercial property in the fund, mainly in Gauteng.
On your website you are quoted as saying: “Business has become digitally embedded and awe-inspiring disruption awaits around every corner.” What in your opinion is the biggest disruption that the property development industry has to bear in mind right now?
I believe that e-commerce is going to have a huge impact on retail development and it is something the property development industry has to be mindful of. With the advent of broadband internet connectivity, we are likely to see e-commerce increasing and that will impact traditional shopping patterns. So smart warehousing and logistics is the future for commercial property development.
What is your business philosophy?
Good business sense is rooted in relationships and harnessing the power of collaboration. Within DiverCity we approach development from different points of view and create a unified vision of urban transformation.
