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EXCLUSIVE: Markus Jooste Might Be Finished, But His Hermanus Home Ain't

The former Steinhoff CEO is building a holiday home in Kwaaiwater, the most expensive part of Hermanus.

07/12/2017 18:02 SAST | Updated 07/12/2017 18:02 SAST

Markus Jooste, who resigned as Steinhoff CEO after allegations of financial irregularities at the multinational company, is building a holiday home right on the water's edge in Hermanus.

Images show excavators and tip-trucks on the property while the area is being prepared before construction starts. The house is being built in an area called Kwaaiwater, between the town centre and Voëlklip, and is considered to be the most expensive and exclusive property in the seaside town. The excavations are being done to enable underground garages to be built before the house will be constructed atop.

Jooste apparently owns other properties in Hermanus, including other holiday homes.

According to a local source the house is being built right in front of Gavin Relly's old house. Relly was chairperson of Anglo American and was one of the first businessmen to negotiate with the ANC when it was still banned in the 1980s.

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An excavator on the property on the water's edge in Hermanus where former Steinhoff CEO Markus Jooste is building a new holiday home.

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The site office and an excavator in the property in Hermanus where Jooste is buidling an new holiday home.

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Earth-moving equipment and tip-trucks on the property where Markus Jooste is building a new holiday home.