Abalone farm expansion to boost property market in Gansbaai

The Gansbaai economy and property market might be boosted by a R100m injection from Premier Fishing into an aquaculture project.

Premier is reported to be keen to pump up production from its abalone farm in Gansbaai to about 250 tons a year within three years to help meet growing demand for the delicacy. The move comes after the government decided last year to ban wild abalone harvesting.

The abalone farm is part of an aquaculture project that should bring new job opportunities and a spin-off demand for more accommodation in the area.

Pat McCloughlin, manager of Chas Everitt International in the port, says plans have also been developed to modernise Gansbaai's harbour area and build a shopping mall along the lines of Cape Town's V&A Waterfront at Kleinbaai harbour.

"It will eventually happen and, coupled with the aquaculture project, will position Gansbaai for a boom," says McCloughlin.

Meanwhile, new residential development in the area has largely been put on the back burner, which has boosted the price of existing properties. Empty stands are selling for between R300 000 and R3 million, says McCloughlin. Prices for existing freehold homes in Gansbaai range from R750 000 to R6m. - Saturday Argus

Posted at 08:35AM Jun 14, 2009 by Editor in Agricultural  |