Following various announcements made by Edcon over recent months in relation to the recapitalisation of the business, the Group has advanced the process sufficiently to provide a further update to all stakeholders. 

Wednesday, 05 March 2014 10:40

The fallacy of relying on a weak currency

There is prevailing conventional wisdom among labour and certain parts of government and industry who believe that a weak rand will reverse South Africa's sagging industrial competitiveness, thereby lifting economic growth and redress our unemployment problem.

Building materials and labour under one roof WHAT is touted as the biggest, most comprehensive building and garden supplies centre in southern Africa will soon be built on a 4.9ha site at Sunningdale, near Table View, at a cost of R50 million. It will be a joint venture by affiliate companies Garden Cities and builders Pinelands Development Company.

Construction IndustryThe site was earmarked within the 210ha site on which the new suburb Sunningdale is being developed on the eastern side of Otto Du Plessis Drive. A R50m lease over 10 years has been signed by the De la Rey group which will operate the massive building supplies component of the development. John Matthews, CEO of Garden Cities, and Willem Vorster, head of PDC, said the concept stemmed from the companies' needs for consistent supplies of building materials.

They are currently developing two significant tracts of land - one at Sunningdale and the other, where 3 000 houses will be built, at Pinehurst neighbouring Durbanville. "With a building schedule on that scale, PDC is already a major client for the centre," said Willem Vorster.

There are also plans for offices for professionals such as architects and draughtsmen. At one end of the site, tradesmen will be able to run their own small businesses from larger than average garages. "Plumbers, electricians, plasterers, bricklayers and so on will be on hand to do small jobs, or to combine as sub-contractors on larger projects," said John Matthews.

"So the centre will cater both for labour and materials."

When completed, the centre will provide every conceivable item to build a house. Carlos Gomes, CEO of De la Rey, said the scope of the 20 000m2 operation would include interior and exterior home improvement products for the home enthusiast.

The centre is aimed at the broadest possible client base right up to major contractors. "You could drive away with the materials for an entire house, including bricks, cement, sand, roofing, sanitaryware, glass, flooring and woodwork, in a couple of trucks," said John Matthews.

"Our objective as developers has always been to add value, and this centre will serve not only its immediate surroundings, but the whole of greater Cape Town. "Nowhere else can one currently satisfy the entire spectrum of needs both for building and beautifying a house. There will also be pool contractors on site, and a beautiful garden centre and restaurant."

 

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