Stuart has over 30 years of experience in the property sector.
He co-founded Newport Real Estate in 1989 with his brother, Anton Chait. Specialising in property development and management, the company worked on developments such as Victoria Junction, Hiddingh Village and Dunkley House. Newport Real Estate prided themselves as “turnaround specialists” and showcased this in projects such as the ABSA Centre, Picbel Parkade in Cape Town and many others.
In 2001, Chait started Mvelaphanda Property Development Holdings (Mvelaprop), South Africa’s first Black Economic Empowerment “BEE” developer. These developments include Tyger Falls in Tyger Valley (estimated value of ZAR 2.2bn), ‘Stonehurst’ on the old Silvermine Naval Base in Tokai, and Big Bay in Bloubergstrand (estimated value of ZAR 2.6bn).
In 2003, Chait formed Property Partners, a property equity and mezzanine financer, with UK-based Highneal Limited. Projects under this name included the iconic Melrose Arch in Johannesburg which was acquired for ZAR 1.27bn in 2005. In 2011 Melrose Arch was valued at ZAR 4.5bn, when Chait sold his interests to co-owner Amdec and Rand Merchant Bank in order to explore other investment opportunities. Other developments during his role as CEO at Property Partners include Nettleton Ridge in Clifton, Intaba in Claremont, Old Match Factory in Observatory and Epic Industrial Park in Maitland.