Renishaw Recognised as Crucial to Economic Recovery
When one hears of the expected R15 billion investment into the Renishaw Coastal Precinct by project completion, the knee-jerk reaction is often that this massive-scale project is all about the money. However, this couldn’t be further from the truth, given that the driving force behind this development initiative is really a focus on community upliftment and conservation.
A Recognised Investment
The first R500 million investment, out of a planned R1 billion, has gone into the 25-ha Renishaw Hills lifestyle estate on the South Coast, which has already yielded significant improvements to the local community, ranging from job creation to the sustaining of small businesses, training programmes for locals, and more.
The efforts made by Renishaw Coastal Precinct were recognised by President Cyril Ramaphosa himself, who accepted a R500-million pledge from the organisation towards his R1.2-billion investment target at the 5th South African Investment Conference (SAIC) held in April 2023. He acknowledged the project as a key part of the South African Economic Reconstruction and Recovery Plan.
Notably, the Renishaw Coastal Precinct was enrolled in the Eastern Seaboard Initiative by Department of Trade, Industry and Competition director Thami Klassen, owing to its potential to play a significant role in stimulating the local economy and contributing to job creation and community upliftment.
As such, a steering committee was established to ensure the minimisation of red tape and bureaucratic hindrances that could stand in the way of a swift rollout of project goals.
Potential Unleashed
Since the start of development at Renishaw Hills, property values in the new estate have gone up by 50% in five years, with Renishaw Coastal Precinct’s MD, Barto van der Merwe, saying that this is expected to rise much more as development across the precinct continues.
Also, plans have been put in place to ramp up conservation efforts in environmentally sensitive areas that surround the five nodes of the precinct. Of the land available, about 2.6 million m2 will be developed, while the remaining 10 million m2 will be rehabilitated into lush, well-vegetated conservation areas.
Moreover, 142 ha of prime land adjacent to the precinct has been donated to the community through the KwaCele Tribal Council (KTC), so that locals can use the land however they see fit. The door is also open for the KTC to acquire 10% of the development through a buy-out process.
Aside from these direct efforts to improve the region, the precinct development will yield substantial opportunities for local job creation, training and skill development, as well as improved access to education, healthcare, shopping facilities and modern infrastructure.
To get involved in a development project that is making a real difference, contact Renishaw Coastal Precinct today and take advantage of the high-yield, responsible investment opportunities available.