Jeffrey’s Bay, the well known Western Cape surfing destination, is to be the site of a new R1,2-billion commercial and residential development being planned by Buchner Propvest, the company said on Friday.
The first phase of the development, targeting 150ha of the total 600ha site, is due to start later this year. It will include a R150-million shopping centre to be developed by black economic empowerment (BEE) group Amabubesi Investments, chaired by Bulelani Ngcuka, and the Orange Property Group.
The centre, with a lettable area of 15 000 square metres, is proposed for a
10ha site.
Developer Oswald Buchner said other first phase facilities will include an hotel, medical clinic, petrol station, offices, a value market, a motor city and a retirement village among a variety of secure residential components.
“Over the last ten years, Jeffrey’s Bay has grown from a small, holiday destination to a large town, catering for the needs of the region between Port Elizabeth and Plettenberg Bay. Regular international surfing events have put it on the world map as a tourist destination. The annual growth of 10% is three times the normal urban growth rate.”
Buchner says the current shopping experience in Jeffrey’s Bay is purely functional.
“Shops are exposed to the elements. People have to battle the traffic and struggle to get parking. Invariably the range of goods available offers restricted choices. As a consequence, a surprising number of people have to visit Port Elizabeth for regular shopping.
Bulelani Ngcuka, executive chairman of Amabubesi Investments, said: “We are thrilled to be associated with an initiative that would create a number of jobs in this area given the high levels of unemployment in the Eastern Cape. This is a huge capital injection and a vote of confidence in this booming area.” – I-Net Bridge