THE CAPE Town property industry has received an unexpected boost from growth of intra-African trade as more and more companies choose to make the city their base from which to carry out their operations.
South African Property Owners Association (Sapoa) publications director Andre Viljoen said that Cape Town had grown in importance as a trading hub for companies doing business in Africa.
Most major West and East coast cities lie on the ocean and this makes Cape Town the ideal base, he said.
Shipping companies, foreign banks and manufacturers were setting up operations in Cape Town as it had first-world facilities and access to the sea He said manufacturers who wanted to set up a plant in Africa had to do everything themselves. However, a Cape-based operation provided a manufacturer with outsourcing possibilities that allowed him to concentrate on his core product.
Cape Town has become the stepping stone for companies who want to trade with the rest of the continent, he said.
