Nova PropGrow is a holding company owning and controlling assets worth in excess of R2.5 billion through a group of subsidiary companies.

Established in 2011, through the assimilation of a number of smaller, independently-owned companies, Nova PropGrow became and remains independent as a well-managed group of companies, that renders comprehensive property management and development, accounting, tax and company secretarial services to a self-owned property portfolio.

Shareholder control of Nova PropGrow lies with founder shareholders and executive management. This follows a debt to share conversion process during 2011/2012, in which the founder shareholders and executive management made it possible for debenture creditors to convert their debenture debt to ordinary shares in the Group.

To the extent to which any debenture creditor elected not to convert his/her debt into shares, the applicable shares (into which the debenture debt was convertible) were ultimately issued to the founder shareholders in return for services to be rendered (over a 10 year period) by them to Nova PropGrow by virtue of their employment with Nova PropGrow in terms of Section 8C of the ITA (Income Tax Act)

Nova PropGrow’s assets comprise a balanced mix of commercial properties, both retail and office, and mixed-use residential developments, throughout South Africa.

Over the years, this portfolio has proven itself to be versatile and sustainable. Testament to Nova PropGrow’s focus on strategic re-development, planning and stringent management measures, the portfolio is consistently well-maintained through mainly internal funding, targeting efficient tenanting and value enhancement.