ANC & DA in property value price.

[Fudzy]

Wonder if this is a bit of tit for tat:

The ANC on Sunday said was concerned about reports that the DA-run Cape Town municipality planned to purchase land at double its reported value.

Independent property analysts had valued the land at no more than R50m.

But the municipality would pay R106m to media company Naspers, the current owner, the office of ANC chief whip Mathole Motshekga said in a statement.

DA's response:

Cape Town deputy executive mayor Ian Neilson called the ANC's reaction "the worst kind of political opportunism".

He said the convention centre's expansion would help make Cape Town a leading global conference and events destination.

"This in turn, will help drive economic growth and development and create much needed jobs for citizens of the city."

He said the amount offered by the city had been determined after extensive analysis by the city's own valuers, as well as by an independent valuer, and was in line with market prices.

"There is no doubt that the transaction can stand up to the highest level of scrutiny."

The municipality would co-operate with any investigations the public protector might institute, as it had nothing to hide, he said.

And ofcourse it wouldn't be a statement by the DA without a little extra whallop:

The ANC would be better served by settling the R1.8m they still owe the CTICC," he said.

The party had failed to pay this amount even after a court order had been issued, and amounted to effective theft of public money by the ANC, he said.

"It is only the failure of ANC ministers of public works, one after the other, year after year, to engage over the availability of Customs House for the expansion of the CTICC, that led to the need to pursue an alternative site for the expansion," Neilson said.

Has anyone read anything about the DA being unable to expand the ICC before?

http://www.news24.com/SouthAfrica/Politics/ANC-DA-lock-horns-over-prime-Cape-Town-property-20120311

 

[sox63]

Purchasing land at double the reported value? Hmmmm, I wonder if Koos Bekker and company have ever donated any funds to the DA?

 

[ToxicBunny]

Reported value and market value are no longer the same thing inside a CBD area due to scarcity of land.

Yes, CoCT may have paid above market value for the property, but it was needed to expand the CTICC, which will bring in much bigger economic benefits than the overpay on the land in the long run.