JSE-listed real estate investment trust Spear has broken ground on its R400-million investment into the Airport Business Park, in George, in the Western Cape.

The 19.5 ha development will provide a full spectrum of industrial and commercial warehousing solutions geared towards agri-logistics, call centres, cold storage, oil and gas, and other ancillary, light industrial enterprises. It will also have a filling station and associated retail offering.

Adjacent to the airport on the corner of the R102 and R404 with excellent accessibility, the park will become a hub of economic activity in the area.

Future upgrades to roads, enhanced services and improved infrastructure will support the park becoming a bustling economic centre that promotes local growth and development, while also positioning George as a central driving force in regional expansion, says Spear development manager Sam Buys.

Spear is the first of three developers investing in the Airport Business Park precinct. The company is investing R400-million over five years into its GTX Park, which will be situated in the Airport Business Park precinct. Upon completion, the GTX Park will encompass a total of 30 000 m² of modern light industrial units spread across nine sites.

“The park will also feature solar photovoltaic infrastructure and innovative water augmentation solutions, with the aim of becoming an entirely self-sufficient, eco-friendly development,” Buys says.

The Airport Business Park, and more immediately the GTX Park, will be a major job creator. The project is expected to generate a significant number of employment opportunities, benefiting the local community and contributing to George's economic growth.

“We are committed to using local suppliers and service providers, and fostering partnerships that will drive growth and sustainability. By supporting local businesses, we are ensuring that the prosperity generated by GTX Park stays within the George district,” says Spear CEO Quintin Rossi.

George benefits from a well-managed municipal environment and local government support has fostered investment into regional expansion, infrastructure and development projects.

“This development holds tremendous promise for our region. The prime location and improved infrastructure is a marker of the progress we are making, and further positions the Airport Business Park as a hub for local economic vibrancy,” says George Finance and Strategic Services, Economic Development and Tourism MMC Dirk Wessels.

“This development is a testament to our commitment to fostering growth and prosperity and catapulting George to the forefront of local economic development in our region and province,” he adds.

“Airport Business Park is a testament to the strength of our community and its potential for growth,” says George Executive Mayor Leon van Wyk.

“We are pleased to be collaborating with Spear, Twin City and Hark Properties, and see this project as a cornerstone of George's bright future feeding into and supporting our primary growth sectors in agriculture, tourism, industry, business process outsourcing, education and the prospects for oil and gas,” he notes.

The Airport Business Park aims to shape the future of George and its surrounds. As construction begins, this development, with an estimated total investment of R1.2-billion, will drive economic expansion, trade and tourism, create jobs and strengthen the city's self-sufficiency, said Rossi.