This spurt of growth and development has been made possible through the Municipality’s earlier bold step to take up substantial external loans to invest in bulk infrastructure and ensure that development opportunities are unlocked in the area. „ “ Drakenstein: A Thriving Investment Hub
The recent rise in the number of building plans being processed and approved by Drakenstein Municipality is just one indicator of the area’s steady development climb and consistent progress as an investment hub. As the Western Cape’s largest municipality outside Cape Town, Drakenstein Municipality boasts the Cape Winelands’ most robust economy. In the last financial year, the area’s top economic sectors have seen significant growth: its finance, real estate, insurance, and business services sector is currently worth R6.8 billion; with wholesale, retail trade, catering, and accommodation sitting at R3.9 billion; and manufacturing at R3.6 billion. Vars cannot help but share our Executive Mayor, Alderman Conrad Poole’s excitement about the rewards the Municipality is reaping from its efforts to continually position Drakenstein as a prime investment destination. “These growth statistics indeed indicate that we are doing something right. Our renewed focus on promoting #InvestDrakenstein has been one of the Municipality’s key revenue enhancement initiatives,” said Alderman Poole.
“We are already seeing the fruits of our efforts in the investment promotion space, such as launching our Development and Investment Prospectus ; establishing our Investment Desk and associated steering committees to facilitate the ease of doing business with the Municipality; forming the Drakenstein Property Development Forum; and implementing a focused Investment Area Management function to ensure business retention and boost business confidence.” During the 2022/23 financial year, 384 new residential opportunities, 1 536 m² of new commercial development, and 10 998 m² of new industrial developments were granted land use development rights in Drakenstein. Over and above these accomplishments, land use rights applications for 2 801 new residential opportunities and 48 249 m² of new commercial land were processed with a total of 1 949 building plan approvals granted from 1 July 2022 to 30 June 2023. The total value of these approved building plans is approximately R3.28 billion.
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VARS | November
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