Redeveloping cane lands in KwaZulu creating jobs
DEMAND for industrial land in KwaZulu-Natal is strong, with vacant space at the lowest level compared with the rest of the country, Tongaat Hulett executive for land development Mike Deighton said on Thursday.Industrial property development has a profound socioeconomic effect in the province that has one of the highest unemployment rates in the country, with one project creating as many as 17,000 jobs.Tongaat Hulett is the primary private-sector development partner of the eThekwini Municipality in a number of multibillion-rand housing, industrial and commercial property projects that are under way or are planned north of Durban. Most of the land for these projects used to be covered with sugar cane, which Tongaat farmed.Mr Deighton said at an event hosted by the Durban Chamber of Commerce and Industry on Thursday that South African Property Association statistics in June showed that vacant space in industrial property averaged 4.1% in South Africa, but KwaZulu-Natal had the lowest a...
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