IN his State of the Nation Address, President Jacob Zuma said land ownership by foreigners would be limited.
But this move could be detrimental to the South Coast.
Most properties in the area are holiday homes, many of which are owned by foreigners who pay regular visits to our shores.
The importance of their investment and their role in the South Coast’s economy should not be underestimated.
This statement sends out mixed messages as on the one hand the President says the country is open for business but on the other he stated that overseas investors will have limited land ownership.
We need investment.
We do not need statements that will cause investment uncertainty.
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