Rumours that Ithala SOC Limited is planning to sell some of its properties in KwaMashu, Umlazi, and Emaweleni have been dismissed by the bank’s Regional Manager, Stuart Adam.
Adam addressed the matter during the 3rd Annual Property Development Conference, which brought together property sector experts, investors, government leaders, financial institutions, developers, and built environment professionals from across South Africa’s provinces to discuss land development, investment opportunities, and economic growth.
Speaking with Nelisiwe Magwaza from Inkundla Yezindaba Newspaper during the conference, Adam said the claims circulating about Ithala disposing of properties in KwaMashu, Umlazi, and Emaweleni were false and unfounded.
He said Ithala remains committed to community development and supporting township and rural economies through its infrastructure and financial services.
“These are only rumours. Ithala is not selling those properties. Our commitment to serving communities and driving economic development remains unchanged,” said Adam.
The conference focused on how public land can be transformed into bankable developments that attract investment, create jobs, and stimulate local economies.
Held under the theme “From Access to Assets: Scaling Bankable Development on Public Land,” the event forms part of broader efforts to strengthen land-led economic development and encourage partnerships between municipalities, investors, and financial institutions.
Delegates from KwaZulu-Natal, Gauteng, Western Cape, Eastern Cape, Limpopo, Mpumalanga, Free State, North West, and Northern Cape attended the conference to explore solutions for sustainable urban development and investment growth.
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