R2 billion developments will transform Cape Town CBD
Twelve new property developments worth more than R2-billion are set to transform the Cape Town CBD. They include the construction of Zero2ONE which‚ at 148m‚ will be the tallest building in the city. According to the Cape Town Central City Improvement District (CCID)‚ five of the 12 developments have gone into the planning phase and seven proposals have been initiated.“Every cent spent on improvement means increased footfall into the central city‚ ever-increasing amenities for all Capetonians and visitors to enjoy‚ and expanded all-important job and economic opportunities‚” said CCID chairman Rob Kane.“In terms of development nodes‚ we have already seen how the re-establishment of businesses in the Bree Street corridor is transforming this entire street‚ particularly towards its lower end closer to the harbour.”CCID communications manger Carola Koblitz said the minimum value of projects completed during 2015 was R987-million.“The minimum value we can currently ascribe to new projects in the planning phase is R912-million‚ and well in excess of R1.1-billion for developments at the proposal stage.“We say ‘minimum value’ as we rely on information from those developers who are prepared to publicly attach a value to development; not all are willing to reveal these figures‚ so the eventual investment amounts will always be higher‚” said Koblitz...
There’s never been a more important time to support independent media.
From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.
For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
Already subscribed? Sign in below.
Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.