SA 'needs to look beyond 2010'

Posted On Wednesday, 19 July 2006 02:00 Published by
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It is essential that SA continue to find ways to sustain the demand for building capacity created by the 2010 Soccer World Cup after the event, or face a long-term building slump
By Nick Wilson

It is essential that SA continue to find ways to sustain the demand for building capacity created by the 2010 Soccer World Cup after the event, or face a long-term building slump, First National Bank property strategist John Loos says.

Loos said on Tuesday that the country could expect the capacity of the building industry to expand significantly ahead of the 2010 tournament.

But he said if the demand was not sustained, then the building construction sector could go into a slump and this would negatively affect the economy.

"One of our constraints in achieving higher growth and higher employment for the country is in the area of infrastructure and it would be a waste to create the ability to deliver the infrastructure via the construction sector and then throw it all away again," he said.

"The success of the 2010 World Cup will be determined by not only how we utilise the infrastructure created, but the skills and organisational capacity the World Cup will help to create."

Absa senior economist Jacques du Toit said it was no use building shopping centres and housing projects with just the 2010 World Cup in mind.

But Du Toit said some of the infrastructure, such as roads, would be of "great use afterwards".

"We know the roads infrastructure is in need of a major expansion. That infrastructure is there for future events," he said.

Business Day
Publisher: I-Net Bridge
Source: I-Net Bridge

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