Atlantis on the brink of economic revival

R1.3bn investment and big property sale catalysts for renewal

THE MEGA-SALE of more than two dozen properties and other land in Atlantis is expected to change the landscape of the West Coast town. The City of Cape Town announced yesterday that the long-awaited R1.3 billion investment boom had been finalised and that Atlantis would be declared a special economic zone (SEZ).

Last month, 29 city-owned properties in Atlantis, including unused land, were sold off to give the town an economic boost.

Mayco member for Area North, Suzette Little, said the focus of the Atlantis SEZ would be on green technology manufacturing. “Once the area is declared an SEZ, it will increase the attractiveness of Atlantis as a place to invest in green technology manufacturing, as green technology investors will receive even more benefits, such as a 15% tax break,” she said.

Based on the results of an industrial survey conducted in February last year by the city’s enterprise development team, the manufacturing sector dominated at least 57% of the area’s industry.

The wholesale and retail sector followed with 15%, the financial intermediation, insurance, real-estate and business services sector accounted for 11%, while the community, social and personal services sector made up 7%.

“The recent R1.3bn investment by Pegas Nonwovens drives a stake firmly in the ground and validates our assertion that Atlantis is open for business. As the City, we feel a great sense of gratitude and elation at this recent investment in the region that will create at least 200 direct jobs.

“All indications are that Atlantis is en route to revitalisation,” Little said.

Atlantis ward 32 councillor Barbara Rass said the community welcomed the economic facelift, but added that residents had raised some concerns with her. TUESDAY APRIL 18 2017

“Atlantis has been overlooked for many years. The town is 42 years old this year and the community is no longer how it used to be. It has grown and we are hoping that this economic injection will create jobs, because we have skilled people and professionals.

“We are absolutely delighted, but we are also waiting to find out what this means for the people in terms of job creation,” she said.

In the proposal stages of the Atlantis SEZ in May last year, Cape Chamber of Commerce and Industry president Janine Myburgh said expanding the green technology industry marked a turning point in Atlantis’s history.

“We now have one of the few growth industries in the country established in Atlantis and the chamber is confident it will continue to grow and transform the community.” –

29 CITY-OWNED PROPERTIES SOLD AS PART OF EFFORT TO GENERATE NEW EMPLOYMENT