HDA Annual Report

ANNUAL REPORT 2023/24

Capital Investment The HDA has an assets management plan in line with the assets management policy framework. The Agency holds land parcels in line with its mandate and the mandate did not change during the year under review. The HDA owns the SABC Seapoint land valued at R46,2m, which was registered in the name of the HDA in September 2023. The HDA also owns the Eskom Building valued at R60,3m, which was registered in the name of the HDA in August 2023. None of these assets have been pledged as security. The SABC Seapoint property was purchased for an amount of R46,2 m and registered in the name of the HDA in September 2023. The land and improvements are valued at 46,2 m. At the time of purchase the improvements on the land included block of dilapidated flats, and as at time of valuation noted to be in a state of poor structural integrity and not fit for human occupation, and would have to be demolished. The property is now classified as land and valued as such. The Eskom building was purchased for an amount of R60,3m and registered in the name of the HDA in August 2023. In terms of GRAP 17, the land was valued at R4,4m and the improvements R55,877m. None of these assets have been pledged as security The Agency maintained adequate, effective, and efficient internal controls to ensure that the asset register remained up to date during the year. The condition of the capital assets was assessed during the year. Except for an impairment loss recorded on the Braamfontein Eskom building, all assets were found to be in a fair and good condition. Asset write-offs were immaterial.

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