No EPZ Status Just Yet for Sungate Development

ACQUIRING Export Processing Zone (EPZ) status is not an immediate priority for Sungate, a mixed property being developed outside Windhoek. Sungate is owned by a local company, Accolade Properties.

According to its website, Accolade shareholders include Clivia Trust, Faith Investments, M.a.D Trust, Buya Foundation and Ileni Foundation.

Project general manager, Geon Ellis said this in a response to a question on whether a teaser being carried out in newspaper aerts implies that the development has been granted EPZ status by the Ministry of Trade and Industry. The teaser says ‘EPZ idea? Why not here?’

The project is situated adjacent to the Hosea Kutako International Airport outside Windhoek.

“EPZ status is not our first focus, we may apply for that in the long term,” Ellis said in an interview in Windhoek.

The idea of developing Sungate was first announced in 2008. But why has it taken six years for the project to kick start? Ellis said they initially had international investors who had different ideas for Sungate. He said these investors are no longer part of the project, which he said is now being driven by local investors.

“In property development we say location, location, location,” Ellis said about Sungate being near the airport and along the Trans Kalahari Highway. Location seems to be the trump card in attracting investors to the property.

He said Namibia is one of the few countries in the world without an industrial park near its busiest main airport.

With the reported expansion of Hosea Kutako on the cards and the expansion of the port of Walvis Bay, Ellis said Namibia is better placed to become a getaway to the SADC region and said Sungate wants to take aantage of that.

He said 11 out of 25 plots in the first phase have been sold. The buyers include a company planning to set up a service station, a car rental company, taxidermy, a bottling plant and a tyre company among many others. He said there are plans for a residential complex to house the workers who will be working at the complex. The construction of the service station started in February this year.

“In five years’ time, the majority of the plots will have been sold,” said Ellis. He said selling between N$550 and N$750 per square meter, Sungate was one of the cheapest prime land for sale around the capital city.

The initial phase of the development consists of about 12 hectares of land, which will include a light industrial park, commercial space, a hotel and the service station.

According to project plans, the design of the residential area makes the most of the surrounding natural environment and will be integrated with the business area of the development.

Documents seen by The Namibian shows that the project will cater for a light industrial space, commercial and business enterprises, hotel and conference facilities, warehousing and service industries, residential amenities and institutional and community facilities.

Source : The Namibian