CBS Chazen South Africa 2.0

Our 2nd day in Johannesburg started with a visit to the Apartheid Museum, which provided all of us with a way to better understand and experience what apartheid South Africa was really like. Through the help of the museum’s various individual exhibits, we were drawn into an emotional journey of the now defunct state-sanctioned racial segregation system and the struggle of the majority to overthrow this injustice. Carefully assembled in chronological order, the exhibits showed a clear depiction of the rise and fall of apartheid, from the race classification journeys, the turn to violence, through the rise of black consciousness which culminated in the National Peace Accord and the historic 1994 elections which represented one of the few times a colonizing force had relinquished control without large scale external intervention or civil war.

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Touring the museum was such an emotional journey through horrors, injustice, sacrifice, liberation and healing that we could not help but note the harsh beauty of this country and how remarkable its progress has been in spite of staggering odds. We left the museum and headed to Sakhumzi restaurant for an authentic culinary experience in the heart of Soweto and within walking distance to the Nelson Mandela house museum.

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In the afternoon, we toured Jabulani, a 1,000-unit multifamily housing project owned and managed by International Housing Solutions (IHS), a South-Africa based vertically-integrated Real Estate investment management firm. Located in Soweto, the Jabulani project caters to the housing needs of middle-income individuals looking to live in close proximity to major transportation and employment centers. Accompanied by the IHS staff, we concluded the Jabulani tour and headed to Fleurhof, a 10,000-apartment commercial and residential development community west of Johannesburg in the Roodeport province.  Constructed in multiple phases, Fleurhof is expected to house over 40,000 residents when completed. The sheer size of this project is astounding and the completed phases are near 100% occupied, proving the exceptional growth of the emerging middle class in South Africa. Further, this project will include improved community infrastructure, easy access to schools, hospitals, shops and work opportunities, improving the livelihood of its residents.

We left Fleurhof inspired by IHS’ efforts to address the lack of housing affordability in the emerging South African middle class. Having been in the country for a little over 3 days, we realized that we were merely scratching the surface examining the size of the opportunity set. We concluded the evening with a walk at Melrose Arch, a modern mixed-use development in Central Johannessburg where our group dined at Moyo, a local favorite (if you are in town and up for a culinary adventure, you must try the mabosa caterpillar).

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