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Spear Initiates Development of Light Industrial and Logistics Hub at George Airport Business Park
Real estate investment trust Spear has commenced development of Light Industrial and Logistics Hub at George Airport Business Park in George, Western Cape.
The 19.5-hectare project will offer a range of industrial and commercial warehousing solutions, including facilities for agri-logistics, call centers, cold storage, and light industrial enterprises. It will also feature a filling station and retail offerings, positioned for convenience. Located adjacent to the airport with excellent accessibility, the park is expected to become a bustling economic center in the region.
Spear’s investment in the GTX Park within the Airport Business Park precinct involves a total commitment of R400 million over five years. The GTX Park, upon completion, will comprise 30,000 square meters of modern light industrial units spread across nine sites. The development plans include incorporating solar photovoltaic infrastructure and water augmentation solutions to make it a self-sufficient and eco-friendly environment.
Total cost anticipated for the development of the Light Industrial and Logistics Hub
The project is anticipated to cost R400-million and also to be a significant job creator, generating employment opportunities for the local community and contributing to George’s economic growth. Spear aims to support local businesses through partnerships and the use of local suppliers and service providers.
The broader development of the Airport Business Park, with an estimated total investment of R1.2 billion, is set to shape the future of George and its surroundings. It is expected to drive economic expansion, boost trade and tourism, create jobs, and enhance the city’s self-sufficiency. The collaborative effort involving Spear, Twin City, and Hark Properties is seen as a cornerstone for George’s growth across various sectors, including agriculture, tourism, industry, business process outsourcing, education, and the potential for oil and gas. The project is welcomed by local authorities and community leaders, emphasizing its potential positive impact on the region’s economic vibrancy and development. |
