East London – The Eastern Cape Development Corporation (ECDC) and Premier Lubabalo Oscar Mabuyane, held the Property Development Roundtable at The Venue, Hemingways East London on the 2nd of November 2023. The event aimed to foster dynamic discussions between the public and private sectors on leveraging state-owned property and land assets to bolster economic growth in the Eastern Cape.
The Property Development Roundtable was joined by property industry leaders, experts, practitioners, government representatives, and members of the business community. With such a diverse gathering, the stage was set for fruitful exchanges of ideas and strategies to drive development in the region.
Premier Mabuyane in his role as the keynote speaker delivered an inspiring address that underscored the importance of collaboration between the public and private sectors in harnessing the potential of state-owned property and land assets. He emphasized the need to leverage these resources to stimulate economic growth and create opportunities for all stakeholders.
“We have been missing in action as the government to coordinate the entire value chain of property development because as a province we have land and businesspeople who are willing to invest. Let us release land, let us release properties for SMMEs, businesses and investors,” Premier Mabuyane.
“We have identified 46 residential houses in eDikeni and most of the occupants have been there for years since the 1950s, and most of them are pensioners and if we do not take care of them their families will be left behind without homes,” Eastern Cape MEC of the Department of Public Works and Infrastructure Ntombovuyo Nkopane.
The roundtable discussions were marked by robust engagement, with participants sharing their insights and experiences in property development. The event provided a platform for stakeholders to explore innovative approaches, identify potential investment opportunities, and discuss ways to overcome challenges in the sector.
The ECDC, as the driving force behind this initiative, expressed its commitment to facilitating partnerships and collaborations that will unlock the economic potential of the Eastern Cape. By leveraging state-owned property and land assets, the corporation aims to attract investments, create jobs, and foster sustainable regional development.
The CEO OF ECDC Ayanda Wakaba emphasize that, “The idea is to find measures to utilize public sectors as a lever for stimulating the economic development. We want the government to release properties to private sectors so we can share benefits once the properties erupt.”
“We cannot point to the laws and legislation that will take years to change, as people who are here and running the country, we are not breaking the laws but fast-tracking them. We must take property as bond and go out and promote these asserts website online and show that properties are available, investments are not tenders,” Chairperson of ECDC Vuyani Jarana.
The Property Development Roundtable is part of a broader vision to transform the Eastern Cape into a thriving hub of economic activity. By bringing together key players from both the public and private sectors, the event served as a space for dialogue and collaboration, paving the way for future initiatives to drive growth and prosperity in the region.
