From Creamer Media in Johannesburg, this is the Real Economy Report. Earlier this month, property management company Citiq launched a shipping container shopping centre known as 27Boxes. Megan van Wyngaardt has the story.
Megan van Wyngaardt:
Hoping to revive the consumer side of the bohemian suburb of Melville, 27Boxes was developed as a mall-meet-market, comprising 102 shipping containers.
The centre hosts about 80 stores selling clothing, décor and art, as well as restaurants and coffee shops. Citiq CEO Paul Lapham explains the idea behind the centre in Third Avenue.
Citiq CEO Paul Lapham
Megan van Wyngaardt:
While 27Boxes offers tenants short-term rental options of about three months, adding to the market feel, it also offered longer-term rentals of between two and three years. Average rent is about R3 000 a month.
Paul Lapham
Shannon de Ryhove:
Other news making headlines this week: A signal process technique developed by the University of Pretoria is set for commercial testing; Minister in the Presidency Jeff Radebe says user-pay infrastructure funding is critical in light of an on-budget resource constraint; and Transnet says its take-or-pay contracts offer volume ‘cover’ during a weak commodity climate.
Having developed a new signal-processing technique for the vibration monitoring and testing of turbomachinery, the University of Pretoria’s (UP’s) Centre for Asset Integrity Management research facility aims to create industry partnerships to develop this technique to maturity and commercialisation.
UP C-AIM director Professor Stephan Heyns
Minister in the Presidency Jeff Radebe has defended the user-pay principle as one of the mechanisms to finance critical infrastructure projects.
Minister in the Presidency Jeff Radebe
State-owned freight logistics group Transnet is budgeting for continued growth in coal and iron-ore export volumes in 2015/16, despite weak commodity market conditions.
Transnet Acting CEO Siyabonga Gama
Shannon de Ryhove:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.