The DTI codes and the Property Charter place emphasis on skills transfer as well as ensuring that previously disadvantaged people are able to acquire assets.

Redefine has established two enterprise development initiatives, in which suitable partners were secured and new companies formed with the partners having majority ownership of 51% and Redefine owning 49%.

Dipula
Redefine entered into a joint venture with a wholly black owned property company,
Dijalo Property Services (Dijalo), to create Dipula Property Fund (Dipula). Dijalo owns 51% and Redefine owns 49% of Dipula. Redefine facilitated the establishment of Dipula by assisting with the financial backing of the business, and by disposing of a number of its properties to Dipula to facilitate increased property ownership among black people. Redefine has invested R67,8 million in the company. In addition, Redefine has a loan to Dipula of R127,3 million. The value of Dipula’s property portfolio at 31 August 2009 was R774,3 million.

Mergence
Redefine entered into a joint venture with Mergence Africa Properties (Proprietary)Limited (Mergence Africa), a substantially black owned company, to create an enterprise development initiative called Mergence Africa Property Fund (Proprietary) Limited (Mergence), which is 51% owned by Mergence Africa and 49% by Redefine. Redefine facilitated the establishment of the company by assisting with financial backing to enable the company to acquire properties. At 31 August 2009, Redefine had advanced loans of R201,3 million to Mergence Africa and the value of the Mergence property portfolio was R605,2 million.

Isivuno Properties
Isivuno Properties, ApexHi’s enterprise development initiative which was established to manage a portfolio of office properties let to and occupied by government departments and parastatals, has been retained as a sub manager on the portfolio following the merger. Isivuno is a 100% black owned and managed property company.