The government plans to sell unused state assets to save costs, as announced by MEC Martin Meyer during the renovation handover of the Esplanade building in Durban.
The Esplanade Government Building will be renovated for R1 billion. | KwaZulu-Natal Department of Public Works and Infrastructure Durban — “The government will not shy away from selling state assets that it no longer needs, because keeping them unused is costing the fiscus.”
“We are not selling government assets as we are leasing these buildings for a 99-year deal through partnerships with the private sector. The government must sell the assets it no longer needs. There are buildings that we should not be owning as a government and they are draining the fiscus. Over R1.7bn we pay for rates and taxes as the government, so we will sell what we do not need as we cannot afford to have buildings standing empty,” said the MEC.
The buildings have stood empty and dilapidated at the corner of Margaret Mncadi Road, formerly known as Victoria Embankment, and Stalwart Simelane Road, formerly known as Stanger Street, along the Durban harbour since 2008. The Esplanade Government Building will be renovated for R1 billion. | KwaZulu-Natal Department of Public Works and Infrastructure
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