THE envisaged John Ross Eco-Junction, set to revive the sluggish economic growth in Empangeni, has made headway and the official ground-breaking took place last Thursday.
Counsellor EF Mbatha, Mayor of the City of Umhlathuze, and Michael Mabuyakhulu, MEC:Economic Development,Tourism and Environmental Affairs, together with STANLIB and Liberty Properties, were all on site to mark the event.
Landowner, Liberty Group, took transfer of the land in April 2014 and, following the conclusion of the first tenant deal which saw a 10-year lease being signed with Tangawizi Motors (Renault, Honda, Daihatsu and Hyundai) and construction has begun to house the four makes with an anticipated completion in early 2015.
Managing Director of Liberty Properties, Maurice Mdlolo, said, ‘An important aspect of the project is local job creation. While the development has been designed and will be managed by Liberty Properties, a locally based contractor has been appointed to carry out all building work for the development – the first step towards ensuring that John Ross Eco Junction is entrenched within the local community.’
Another strong drawcard for tenants is that John Ross Eco Junction will be developed in an environmentally sustainable manner with specific focus on rainwater capture, permeable paving, renewable energy sources and the conservation of indigenous plant life.
Economic boost
‘Based on the keen interest that we are receiving from potential tenants, including additional motor dealerships and warehouses, we anticipate this development to become a cornerstone of the Richards Bay business community,’ said Mdlolo.
Alex Phakathi, Fund Manager for the Liberty Property Portfolio in STANLIB Direct Property Investments Franchise explained, ‘The development of John Ross Eco Junction is an important step in the process of bringing greater diversity to the Liberty core portfolio by extending its reach into industrial property.
‘The acquisition is strategic for Liberty Group, mostly because of its ability to facilitate sectorial and regional diversification.’
Phakathi concluded, ‘We are pleased to be involved in John Ross Eco Junction and see this investment as a boost to economic growth. We have no doubt that the growth opportunities will play a key role in the economic upliftment of the area and surrounding communities.’
