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renewable energy . Commitments to building new transmission lines and partnerships between municipalities and the private sector indicate a promising path forward .
In recent years , sustainability and the green sector have taken centre stage at the State of the Nation Address ( SONA ), signaling a significant shift in property development practices . Leading developers like the Devmco Group , Collins Residential , Feenstra Group , and Hibiscus Retirement Villages are incorporating green design principles and alternative energy sources as standard features in their projects .
Addressing water supply challenges is another critical aspect highlighted in the SONA . Collaborative efforts between the public and private sectors , such as the partnership in Riverfields , Ekurhuleni , demonstrate proactive steps toward improving water resource management and infrastructure .
Projects like the Riverfields precinct underscore the demand for industrial spaces near ports and airports , attracting blue-chip tenants and facilitating economic growth . Collaboration between developers and municipalities is crucial for infrastructure development and job creation , as evidenced by initiatives like the Infrastructure Fund and coordinated public infrastructure builds .
While positive undertakings have emerged from the SONA , successful implementation remains paramount . The private sector ' s commitment to the country ' s growth is evident , but effective collaboration and performance from the public sector are essential for substantial progress nationwide .
In conclusion , while challenges persist , the collaborative efforts between the public and private sectors , coupled with innovative investment opportunities , indicate a promising future for property investment in South Africa . It is through continued collaboration and effective implementation that substantial progress and economic growth will be achieved across the country .
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Real Estate Investor Magazine MARCH 2024 10