The Heher Commission of Enquiry, proposed options for student accommodation development to cater for between 50% and 80% of the student population; and estimate the cost and time to be R147 billion over a 15-year period. Thereafter an estimated annual growth of 5% is required per annum to ensure additional demand is covered. This doesn’t begin to consider the R2.5 billion to cover a backlog in maintenance or a further R1.9 billion to update existing residences so they are fit-for-purpose.
The solution for government alone is near to impossible. Thus, the real solution is a combination of:
- Private Finance development and operation
- Public Private Partnerships
- Private Partnerships, and
- Precinct Development
This is where Citiq is making a huge difference. We are working with higher education because we know that collaboration is the key to opening the door to student accommodation.
The Citiq team comprises talented people who are leaders in their field and who have a diversity of skills, knowledge and expertise as well as property industry experience.
Acting Chief Executive Officer
An Industrial and Systems Engineer, Nicolaas has extensive experience in the fields of physical asset management, facilities management, public-private partnerships and overseeing multinational enterprises in the mining and manufacturing industries. He is working towards his MBA.
Chris van Rensburg
Chief Financial Officer
Chris is a CA(SA) with international experience, leveraging from his 15 years of work experience in the financial services, construction and property development sectors. Chris is an active person and is passionate about road-and trail running.
Citiq plans to grow its affordable student accommodation portfolio to over 10,000 beds in the next five years. We also aim to even become the preferred manager of affordable student accommodation for others.
We have cemented firm relationships with major post-school education and training institutions. Citiq is a founding member of South Africa’s Private Student Accommodation Providers’ Association (SAPSAPA) the newly established body representing the industry that will become the voice for large private student accommodation providers in South Africa.
Our management systems allow the managers and maintenance personnel to manage the day-to-day operations of the residences. Each residence has a residence manager and house mother/father with whom the students can interact.
This ensures risk management, maintenance, communication and student satisfaction.
Our largest investor, Futuregrowth, is a specialist investment company and a member of the Old Mutual Investment Group. This provides Citiq with access to institutional funding. We have a scalable business model ready for growth and meaningful impacts in addressing the need for student accommodation from an affordable, social and economically feasible point of view.
We firmly believe that transforming South Africa is about a lot more than scorecards and tick boxes. When our investors consider what is required for transformation, they include the impact their business and investments have on the broader society in which they operate. Citiq fully supports this philosophy through the transformation of our business to reflect the racial and gender diversity of our country.
The impact that our business has is transformational for our students, our communities, the education space and the economy as a whole.
All our residences exceed the Minimum Norms and Standards as set out by the DHET. Our residences are accredited by the University of Johannesburg and the Tshwane University of Technology. Our products are therefore exceptional value for money.
We don’t just provide a bed to sleep in – we provide much more than that. We believe in creating an environment that is conducive for learning and for students to excel in. Every year various initiatives are launched, ranging from soccer teams to social events, such as our annual Spring Bash.