A Cape Town-based property magnate on Saturday criticised the proposed moratorium on the sale of South African land to foreigners.
Seeff Properties chairperson Samuel Seeff said he is very uncomfortable with the proposed move.
”We have reiterated on a number of occasions that if government wishes to bring out a foreign-property ownership policy, they should do so with specific terms and conditions that focus on the objectives they are seeking to achieve,” he said. ”What they should not do is just slap a blanket moratorium on sales of land to foreigners.
”Putting comments like these out into the marketplace without explaining the reason behind them and the objectives that they are seeking is detrimental all round,” he said in a statement.
Seeff said foreigners have played an important role in creating employment and investing money in South Africa.
The Democratic Alliance also criticised the proposal on Friday, saying it could have profoundly negative economic consequences for South Africa.
The proposal came from a panel of experts that was appointed by Minister of Agriculture and Land Affairs Thoko Didiza in 2004.
The panel’s work was to review the ownership of South African land by foreigners. It made the recommendation on Friday. — Sapa