Property developer Baywest City is embarking on five major developments this year, valued at more than R1.2-billion.
Over the next two years, the developers would invest in a 228-unit residential development, an 8 000 m2 green-rated office block, an international hotel, two restaurants and a lifestyle centre sporting a Virgin Active gym, besides others.
The projects would see the Baywest City precinct, which was modelled on Cape Town’s Century City and Durban’s Gateway, boost the local economy through job creation and shaping a business, retail and lifestyle hub in the western suburbs along the N2 freeway.
Baywest MD Gavin Blows said the intention was to grow the precinct into a secure, modern mixed-use environment. “All the developments will ultimately complement each other and create one of the fastest-growing nodes in Port Elizabeth.”
He added that construction of the residential village, which would have a total built area of 46 000 m2, would start in the second half of this year.
Meanwhile, he pointed out that research had shown that there was a high demand for A-grade office space in the western suburbs. “Most staff and managers reside this side of town and getting in and out of Baywest is far easier than other nodes. Businesses will be able to occupy space ranging from 150 m2 to an entire building.
“Another purpose-built, three-storey office block, which carries a [Green Star SA] five-star as-built rating, is currently under construction. It’s set for completion by the end of this year and will be the first green-rated commercial building in the Eastern Cape.”