Business Staff

In a new milestone, Coega industrial development zone officials announced on Thursday that the first speculatively-built warehouse in the project is ready for occupation.

Coega Development Corporation officials said the 1 800m² warehouse in Zone 1, which is set aside for light industries, had been completed at a time when there were “increasing concerns” over the shortage of industrial and commercial property in Nelson Mandela Bay.

“It‘s also been said that high building costs are scaring off potential developers,” said the officials.

Seeff Properties Port Elizabeth commercial division agent John Harrington said: “There is a dire shortage of good, well-priced and secure commercial property in the Bay.”

He said there was “no doubt that Coega‘s announcement would be welcomed with open arms”.

CDC official Ongama Mtimka said the warehouse would be “ideal for companies involved in light manufacturing and distribution activities, but can be reconfigured to suit specific investor requirements”.

Mtimka said another 3 040m² warehouse, in Zone 2, set aside for the automotive sector, would be completed by mid-December and ready for occupation in January.

“These warehouses are designed as generic facilities suitable for various types of light industrial and heavy industrial applications.

“Such speculative developments are ideal for potential investors who have tight time frames and who want to move into ready-built facilities.

“This is in line with CDC‘s commitment to deliver world-class solutions to our investors in the shortest possible time frames. Our ability to respond to investor requirements well in advance, among other things, sets us apart from our competitors,” said Mtimka.

“The warehouses are being constructed in anticipation of high demand due to the number of signed investors and the opening of the Port of Ngqura in the first quarter of 2009.

“Additionally, various other ready-built facilities are being developed to suit the needs of potential investors.”

The Herald