Sungate mixed-use & EPZ model launches in Namibia

Posted On Thursday, 05 February 2009 02:00 Published by
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SUNGATE is a mixed-use development situated on 408ha of prime real estate directly adjacent to the Hosea Kutako International Airport, Windhoek, Namibia

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Developed with a view to create a trade hub of commerce and industry consisting of 231 hectares of saleable land divided into light industrial, commercial, retail, leisure and residential applications, SUNGATE is intended to serve as a trade gateway into the SADC region in accordance with Namibia’s ‘Vision 2030’ and the recent Free Trade Agreements between the SADC countries.

With the infrastructural upgrade of the Walvis Bay deep water port, and the Trans-Kalahari Corridor stretching for 5km through the site, SUNGATE is strategically positioned to deliver sustainable long-term economic benefit to the region and will effectively have the status of an EPZ (Export Processing Zone).

A proud project of Accolade Properties Namibia, a division of Accolade Property Group based in Gauteng South Africa, our policy of associating ourselves with the finest professional team with specific local knowledge allowed us to achieve full mixed-use rights for the development, and formal approvals from Nampower, Namwater, Namibian Roads Authority and Telecom Namibia, thanks to the full support of the Government of the Republic of Namibia.

The project feasibility was recently completed by Price Water House Coopers Namibia, hence our investment criteria and time frame have now been finalized and we are in a position to break ground in mid-2009 and after two years of effort, deliver real value to investors and funders alike, changing the landscape of the Namibian and SADC economies.

Even prior to formally launching the project, marketing Director of Accolade, Peter Collins enthuses "we have had a substantial response from the local and Southern African market demonstrating a clear demand for infrastructural investment at the International Airport in Namibia".

"With estimated gross revenues from land sales of over N$1 billion over 7 years, we are now confident that the SUNGATE model can be replicated at similar strategically-located sites across Africa, and we have registered the trademark in 15 SADC countries" he concludes.

Last modified on Monday, 14 April 2014 11:46

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