CAPE TOWN — Luxury property development group Pezula has hit out at government for sending confusing and “irresponsible” signals about foreigners being restricted from buying property in SA.

Last week, government spokesman Themba Maseko told the media that the Coastal Integrated Management Bill would restrict the ownership by foreigners of coastal property. He later retracted this comment as being incorrect.

On Sunday, Environmental Affairs and Tourism Minister Marthinus van Schalkwyk moved to calm a jittery property market, saying the draft bill would not restrict foreign purchases of coastal land. He said the draft adopted by the cabinet last week would give government more teeth to control illegal structures built in the coastal zone.

Pezula chairman Kevin Stewart said statements about the ban on foreign land ownership would raise concerns about the future of SA and the uncertainties facing investors.

“This all flies in the face of government’s initiatives to attract foreign investment and create jobs.

“Until such time that we stand up and commit to a long-term, consistent policy concerning foreign ownership of land or business, we will not attract the number of foreign investors needed to really make a difference to the quality of life of our citizens,” Steward said.

Pezula came into SA as a foreign investor, he said, and had already invested more than R1bn.

Pezula public relations manager Jeannine Orzechowski said that the company had received numerous calls from overseas investors after Maseko’s statements. They were “extremely concerned” about the negative messages that were being sent out, she said.

“News travels fast and the international market is taking this very seriously,” Orzechowski said.

Meanwhile, commercial property association Sapoa CEO Neil Gopal expressed support for the draft Integrated Coastal Management Bill. He said it was important that SA had “a logical framework to protect the coastline and coastal land, regardless of the nationality of the property owner”.

“Every leading country has some sort of regulation in this regard. This draft bill emerges from the current situation, which sees SA with no regulation of this kind.

“The introduction of this regulation will protect the rights of South African citizens to have access to public facilities. It will also protect vacant coastline both from an environmental and a developmental perspective,” Gopal said.

Van Schalkwyk said the bill aimed to preserve the integrity of SA’s coastline.

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