Billions to be pumped in for ‘super suburb’

GROWING demand for beach property on the outskirts of East London has compelled a property development group to up its investment in beach estates near the city to R5-billion from the R2-billion announced last year.

Development company Mission Holding Groups (MHG) chief executive Tjaard van der Walt said they were anticipating an economic boom linked to a Mercedes-Benz South Africa (MBSA) R2.5-billion investment in its plant and the development of the East London port infrastructure for coal export.

Van der Walt said despite scepticism, the project was forging ahead and has achieved 80% sales for mid-level residential properties in its mixed-use development The Village near Kidds Beach.

They are priced from around R900 000 per unit.

A newsection with over 1 040 entry level residential units in The Village development, punted as East London's next “super suburb”, will be launched in January next year and construction on the first phase will follow soon after.

Van der Walt said the development would cater for residential, business and tourism clients and would include two private schools, a hotel, a hospital, conferencing facilities and shopping centre.

East London residents who work in Bhisho would benefit from the closer proximity of Kidds Beach to the working destination.

“A lot of the people living in East London work in Bhisho, which is 40km from Kidds Beach as opposed to 54 to 60km from East London. The Village will provide 3 500 job opportunities once it is complete. During the construction phase there will be 10 000 job opportunities,” said Van der Walt.

“All agreements are in place with the municipality.”

Van der Walt said The Village would have a total of 2 600 units including two bedroom entry level houses starting at R550 000 targeted at young first-time owners and a Golden Mile with upmarket houses and town houses from R3-million.

“There will be a private primary school, creches and a church, and also a recreation area and shopping centre.”

The development has the backing of the