PROPERTY
NEWS HEADLINES
Colin Fibiger, CEO of Property Network, has called for close monitoring of the sale of Arlington Race Course to Council as critical to acting in the best interests of Nelson Mandela Bay residents.
Phumelela, the current owners, have proposed that the Nelson Mandela Metro buy the race-course and use the land for the development of affordable housing.
"Given the history of corruption within local councils
and the sometimes flagrant disregard for the law, we consider it a reasonable
request to ensure that absolute transparency and accountability is in place
from the early stages of negotiations," he said.
“It is felt that the Hawks should monitor the progress of the transactions closely,” he said. “As they were no longer an independent law enforcement arm, they are bound by the key SAPS policy of preventative policing and as such should intervene at early stages where possible corruption could take place.”
The Nelson Mandela Bay Metro constantly falls short of housing targets and could ill afford any expenditure that did not contribute positively to the growth of the property sector in the region.
“For many, RDP housing is the first step in property ownership and the stabilisation of this segment of the market provides a healthy base for long term prospects in the property market,” he said. “Security of home ownership in the lower income markets combined with good infrastructure provides the platform for investment and growth, something the region has long been lacking.”
Property Network feels that visible preventative measures prior to matters becoming an issue, would ensure that proper procedural steps are followed, due diligence is done as well as providing a transparent environment where local business gains confidence in the capacity of local governance.
“It is never government that builds an economy but the endeavours of entrepreneurs and unless business confidence and trust can be built, the region, already beset by high unemployment will continue to languish way behind its potential,” said Fibiger
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