MPs stand firm on sale of coastal areas
Parliament is refusing to back down on a new law that would prevent Cape Town's V&A Waterfront owners, Lexshell Pty Ltd, from developing the most expensive marina in the world at Granger Bay.
The environment portfolio committee has told Transnet that it will not amend the Integrated Coastal Management bill which declares all South Africa's coastal areas to be public property.
The ID's Lance Greyling says if the law is passed, then parts of the sea already sold by Transnet to Lexshell may not be reclaimed and developed into luxury flats unless it seeks parliament's permission.
Lexshell is 75percent foreign owned by companies based in the UK and Dubai.
Experts say that each flat in the marina, with its own international mooring, would cost almost R50million.
A source told Sowetan that Lexshell hired senior counsel Jeremy Gauntlett to lobby parliament to exclude the V&A Waterfront from the bill.
This has led to mounting concerns that the sale of the V&A Waterfront in 2006 has not been fully disclosed.