DURBAN – Gerhard Kotzé, Managing Director of the RealNet estate agency group, said that the SONA highlighted several initiatives and projects that could be positive for the property sector going forward.
The positives for the property sector going forward can be broken down into these following points:
1. The imminent restructuring of Eskom to prevent its collapse and ensure that all the plans for accelerating economic growth and employment are not wrecked by a critical energy shortage;
2. The intention to hold a second Investment Summit later this year to specifically seek funding for urgent provincial development projects;
3. The establishment of a presidential task team to identify and remove the barriers to new business formation and the employment it creates;
4. The plans to pursue the business development and export opportunities presented by the new African Free Trade Area;
5. The extension of the Youth Employment Tax Incentive for another 10 years;
6. The planned release of large tracts of well-located State land for housing development;
7. More investment in labour-intensive sectors such as agriculture and tourism, as well as in science and technology initiatives that will educate and prepare SA youth for the digital future;
8. The commitment to build 500 000 new social housing units over the next five years;
9. The establishment of an R100bn National Infrastructure Fund to leverage investment in the much-needed repair and development of SA’s roads, railways and health and education facilities;
10. A commitment to fight the culture of non-payment for essential services; and
11. The establishment of a specific unit to follow up on all the evidence presented to the Zondo Commission about corruption, institute prosecutions and reclaim assets and money stolen from the public purse.
"However, the President also took the opportunity to announce the date of the election, and we will have to wait and see whether his government will have the necessary majority after 8 May to implement all these plans," concluded Kotzé.
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