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| Steve Burnett |
A recent report on Yahoo News has stated that billions available in South Africa to be spent on infrastructure and commercial projects is not being used.
Construction firms are not keen to tender for much needed government infrastructure projects. Projects are haunted by bureaucratic legacy – little happens on time or within budget. As a result, many firms are battling bankruptcy due to non-payment for previous government projects.
“However, a point that Zuma made in his state of the nation address yesterday is that the government is committed to paying small, micro and medium developments within 30 days. This will be a great help to maintain and improve levels of small business”, said Steve Burnett of 5th Avenue Properties. “We all need to investigate a way to make public spending more efficient, and ensure a sustainable tax basis that will stimulate and maximise growth in the private sector”, added Burnett.
“Not only is infrastructure desperately needed, commercial and industrial (warehouses TO LET)sectors also need a boost. Much commercial property is at risk of becoming too expensive to contemplate” says Steve Burnett, 5th Avenue Properties.
As a tenant, sourcing and securing new premises can be challenging. The same goes for renegotiating and renewing existing agreements with landlords. Partnering with 5th Avenue Properties can ease many of the obstacles associated with renting commercial property, ensuring the playing fields between tenant and landlord are levelled.
Commercial property in South Africa carries a value of some R704-billion. Zuma said the government would spend R4-trillion on projects over the next 15 years.
5th Avenue Properties
Phone:
+27 (011) 234 6111
+27 (0) 861 234 611
Email: renec@5thavenue.co.za
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