Con­struc­tion projects set to boost the West­ern Cape

The Star Early Edition - - NEWS - Joseph Booy­sen

THE WEST­ERN Cape is set to ben­e­fit from new and cur­rent con­struc­tion projects worth bil­lions of rand this year, which will cre­ate much-needed jobs in the prov­ince.

Alan Winde, the MEC for eco­nomic op­por­tu­ni­ties, said there were a num­ber of ex­cit­ing de­vel­op­ments for the prov­ince’s tourism sec­tor in the next few months. He said the Silo ho­tel would open at the V&A Wa­ter­front in March.

“The ho­tel is al­ready fea­tur­ing on in­ter­na­tional must-visit lists, in­clud­ing CNN’s Busi­ness Trav­eller’s ‘15 hot new ho­tels to check out in 2017’. New es­tab­lish­ments like these speak to the busi­ness con­fi­dence hos­pi­tal­ity in­dus­try in­vestors have in the West­ern Cape.”

New ho­tel

Winde said last year Marriot In­ter­na­tional, in part­ner­ship with Amdec, an­nounced a R2 bil­lion in­vest­ment to de­velop three new prop­er­ties in the city and Tsogo Sun would add 500 rooms in cen­tral Cape Town when it opened a R680 mil­lion ho­tel.

“The Carl­son Rezi­dor Ho­tel Group has also in­vested sig­nif­i­cantly in our prov­ince. The group has launched the Radis­son Red at the V&A Wa­ter­front’s Silo District, and the Radis­son Blu Ho­tel and Res­i­dence at the old Tri­an­gle House Build­ing.”

Rob Kane, the chair­man of the Cape Town Cen­tral City Im­prove­ment District (CCID) said: “We cur­rently have R4.303bn un­der con­struc­tion, R1.7bn in plan­ning and a fur­ther R2.6bn pro­posed be­tween now and 2020 in the foot­print of the area in which the CCID op­er­ates, in other words the tra­di­tional Cape Town CBD. This comes to a to­tal of R8.603bn, as we cur­rently stand, but we have no doubt that there will be new de­vel­op­ments an­nounced within the first quar­ter of 2017.”

There was also new de­vel­op­ment in the Culem­borg area, such as Amdec’s Har­bour Arch de­vel­op­ment, be­lieved to be in the re­gion of R8bn.

Ra­bie Prop­erty Group di­rec­tor John Chap­man said the group had 11 projects to­talling more than R3.2bn un­der way or planned to start this year. He said these projects, a mix of com­mer­cial and res­i­den­tial de­vel­op­ments, were tak­ing place in three dif­fer­ent nodes, Cen­tury City, Bur­gundy Es­tate (near Bothasig/Mil­ner­ton) and Clara Anna Fon­tein in Dur­banville.

He said Ra­bie and its joint ven­ture part­ner sold 328 of the 344 sin­gle res­i­den­tial er­ven at Clara Anna Fon­tein for a to­tal of R635m in the past year, while con­struc­tion of the first phase of 57 town­houses in The Vil­lage was un­der way at a to­tal cost of about R285m, with the sec­ond phase of 69 homes set to be launched in May at a to­tal cost of about R345m.

Chap­man added that at Bur­gundy Es­tate the group had four de­vel­op­ments un­der way: the R200m Ver­mont com­pris­ing 190 apartments, the 180 unit Za­rina apart­ment com­plex cost­ing R200m, Spring­field com­pris­ing 68 stand­alone town­houses at a cost of R145m and the first phase of Avenida which would even­tu­ally com­prise a to­tal of 183 apartments at a cost of about R235m.

He said the projects un­der way or set to start shortly at Ra­bie’s flag­ship de­vel­op­ment, Cen­tury City, in­cluded a 16 400m² of­fice de­vel­op­ment at a cost of R460m, and a land­mark de­vel­op­ment of 79 lux­ury apartments, the Axis, at a to­tal cost of R400m.

Great year

The R200m Ter­races de­vel­op­ment of 140 apartments, the R385m Wa­ter’s Edge com­pris­ing 144 apart­ment over­look­ing the In­taka Is­land wet­lands re­serve, two high-rise res­i­den­tial blocks in the Oa­sis Lux­ury Re­tire­ment Re­sort for a to­tal of R510m and a mixed-use de­vel­op­ment, Man­hat­tan Cor­ner at R60m.

“These projects to­tal more than R2bn. 2017 is go­ing to be an­other great year of de­liv­ery and also plan­ning of an­other R3bn new project, the first phase of which we hope to get un­der way in mid-2018.”

Ac­cord­ing to the re­cently re­leased Ox­ford Busi­ness Group eco­nomic up­date, un­em­ploy­ment grew in the lat­ter part of last year, reach­ing 27.1 per­cent of the work­force in Septem­ber. The re­port said that the drop in em­ploy­ment lev­els saw 5.9 mil­lion South Africans out of wok, an in­crease of 300 000 in three months, bring­ing the un­em­ploy­ment rate to its high­est level in 13 years

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