A R1,2bn mixed-use development in the Eastern Cape's Jeffreys Bay has been approved by the Kouga Municipality.
The municipality says it has signed a services agreement with developers Buchner Propvest that will meet the service delivery needs of the town.
The retail, commercial and residential development will be built on the 600ha Fountains property in Jeffreys Bay.
Jeffreys Bay mayor Robbie Dennis, who spearheaded the agreement, says: "Many months of planning have culminated in this major step towards improving our service delivery and to upgrade our infrastructure and essential services networks."
Dennis says the "phenomenal growth" in the population of Jeffreys Bay has placed the surfing Mecca's infrastructure under severe strain, necessitating a major upgrade that cannot be financed from rates and taxes.
"We have achieved a win-win solution to improving our service delivery through a co-operation agreement with developers Buchner Propvest.
"We are providing services to meet their needs and they are providing upgrading and construction services to meet ours," he says.
Business Day
Publisher: I-Net Bridge
Source: I-Net Bridge
