Reflecting on a transformative 2024

What a year it has been!

In 2024, the world witnessed a series of dramatic political events, including the withdrawal of one American presidential candidate months before the election and two assassination attempts on another. In South Africa, Jacob Zuma's influence significantly altered the political landscape, challenging the ANC's 30-year dominance and enabling the DA to emerge as a key player in government. The aftermath of the May elections saw a surge in economic activity, with interest rates cut twice and load shedding finally ending in March.

The impact of South Africa’s 2024 election

This year, 50 significant elections were held globally, but none were as consequential for us as the South African election on May 29, 2024. This election resulted in a Government of National Unity (GNU) for the first time in decades, ushering in a wave of optimism that has led to decreased interest rates and heightened business confidence, particularly in the thriving Cape region. Before the election, South Africa was precariously balanced on a knife-edge, grappling with rising populism and governance concerns. The new political landscape has sparked renewed hope for economic stability and growth.

Inospace’s seventh year: a story of resilience and growth

At Inospace, we embraced our seventh year of existence with significant internal transformations as we prepared for an exciting future. Despite the headwinds of political uncertainty and economic challenges, we experienced remarkable growth in our core property-owning portfolios, with income rising sharply and occupancy rates across our portfolio nearing 96%, driven by strong tenant demand. Our joint venture with Fortress Real Estate, Inofort, has also flourished, reflecting our strategic vision.

Expanding our footprint

This year has seen us acquire several significant new sites, including the Telkom building, which we are repurposing into an iconic R300 million destination for innovative technology, logistics, and e-commerce businesses. Additionally, we secured Prima Works in Epping, Industria and other last-mile logistics sites in Jet Park, Johannesburg. Our focus on last-mile logistics has led us to great success; our fulfilment services have thrived this year, achieving record turnovers.

Celebrating innovation with Lisa and our leadership team

We are also proud of our achievements with Lisa, our leasing platform that has streamlined operations and garnered recognition through various awards. Winning accolades for our innovative approach has reinforced our reputation as pioneers in the industry. Lisa's capabilities have transformed how we connect with clients, ensuring their needs are met efficiently and effectively.

This year also marked the introduction of our invigorated leadership team: David Bernstein as COO and Nick Shabson as CFO. Their expertise will be instrumental as we focus on technological growth and innovation. We have launched an Entrepreneurs Networking Hub at Powder Mill, fostering business collaboration.

Looking ahead to 2025 and beyond

Moreover, our commitment to innovation is evident in initiatives like our new warehousing suites designed to meet evolving market demands. As we look ahead to 2025 and beyond, we remain steadfast in our mission: to forge a better future by empowering entrepreneurs to succeed.

In conclusion, 2024 has been a year of dizzying ups and downs—a testament to our resilience and adaptability. As we navigate these changes together, I am optimistic about what lies ahead for Inospace and our clients. Thank you for your continued support as we embark on this exciting journey into the future.