Despite controversy surrounding South Africa's Expropriation Act, local developers and marketers believe it will unlock opportunities for land development and urban renewal. The act allows for the government to expropriate land for 'nil' compensation under specific conditions, but developers argue that it promotes fairness and legal oversight, ultimately benefiting the economy through job creation and community upliftment. While concerns about property rights exist, developers see the act as a chance to participate in a more inclusive housing and land ownership model.
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.South Africa is experiencing a significant boost in appetite from developers that is unlikely to be quelled by the controversialThis was the view of local developers and marketers who work closely with major domestic and international developers.
“In our opinion, we don’t see the Land Expropriation changing this. It seems clear around the fact that expropriation without compensation can only take place when it is ‘just and equitable and in the public interest to do so’. Other projects Botha is involved in include The Bridge precinct development in Stellenbosch, that is estimated will contribute R60 billion to the local economy, and the Sibaya Coastal Precinct development, which will be underway for at least 10 to 15 years.
“Instead, it provides guidelines on when compensation may be nil, ensuring fairness and legal oversight. This structured approach promotes long-term stability, rather than uncertainty, as opposed to past“The fear of a total land grab is misleading and unfounded. The Expropriation Act does not override constitutional protections for property rights but instead ensures land reform happens within a clear legal framework,” he said.
DEVELOPMENT EXPROPRIATION SOUTH AFRICA LAND REFORM PROPERTY RIGHTS
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