Brokers can earn up to a maximum of R4,3 million for the successful and settlement of a manufacturing investment into the IDZ.

Property specialists and investment brokers can now earn a commission on facilitation of a new investment into the East London Industrial Development Zone.

The East London IDZ Broker Participation Scheme, which allows brokers to earn up to a maximum of R4.3 million for the successful attraction and settlement of a manufacturing investment into the IDZ, was officially launched by the East London IDZ during this year's annual South African Property Owners Association (SAPOA) conference in Durban.

The East London IDZ is the first IDZ in South Africa where property specialists and investment brokers are compensated for the attraction of investment into the zone.

"This is part of the zone's purpose to accelerate the accomplishment of its business objectives and socio-economic goals in the Buffalo City region.

"We see this as an opportunity to develop a strategic partnership with property developers and investment brokers in South Africa, whilst also ensuring that there is a constant investment inflow into the zone," says East London IDZ business development executive manager Tembela Zweni.

Zweni says that the scheme had been carefully constructed by the zone to ensure it was beneficial to the property developers and the zone alike.  By bringing investors into the zone, the brokers will be helping the zone in fulfilling its economic development mandate and in turn the zone shall compensate the brokers for their efforts.

"Part of the conditions of the scheme is that commissions are payable only once all qualifying conditions, including property registration; deal finalisation and approval of the industry as an IDZ enterprise, have been met," adds Zweni.

The zone has already attracted 21 investors with a combined investment value of over R1 billion to date. With the value proposition of the automotive sector tried and tested, East London IDZ has now advanced its plans of attracting investment from different economic sectors including agro-processing and energy.