R10bn development to boost city economy
Six-tower Harbour Arch set to be positioned as new gateway to CBD
AMDEC Group’s R10 billion, mixed-use development on the Foreshore will create 2 500 construction jobs, another vote of confidence for the city. This was according to Tim Harris, the chief executive of Wesgro, Cape Town and the Western Cape’s official tourism trade and investment promotion agency, speaking at the launch of the Harbour Arch development.
Situated on the Foreshore area, the development will be in proximity to the CBD and will encompass street-level motor dealerships, lifestyle and convenience retail, boutique office space, upmarket apartments, and two Marriott-branded hotels.
The complex, build on a 5.8-hectare site with 200 000m² of usable space, will comprise six towers located above a landscaped pedestrian walkway running the length of the precinct.
The development is set to be positioned as a new gateway to the CBD, with the first phase expected to create 2 500 construction jobs, while the two Marriott-branded hotels will secure 350 permanent jobs, with additional opportunities in the various retail spaces.
Harris said the launch of Harbour Arch by the Amdec Group was another vote of confidence in Cape Town, and highlighted how the CBD was probably the most functional and investable on the continent.
“Such a large development will provide a boost to our local economy and will add to the city’s growing skyline. Modelled on the award-winning Melrose Arch mixed-use precinct in Johannesburg, this development will add much-needed housing stock and job opportunities in central Cape Town.”
Harris said Cape Town’s strong tourism brand was at the heart of what the Western Cape and the city had to offer, and growth in tourism over the past year had been extraordinary.
Mayor Patricia de Lille said investment through the construction of the development was a welcome injection to the city’s economy.
“Cape Town is a forward-looking city, attracting more investment. We have to balance economic development with highdensity affordable housing which is located close to the city. Investment must coincide with our social responsibility to inclusive economic growth, job creation and an integrated community.”
James Wilson, chief executive of the Amdec Group said of the development: “It’s geared to allow for pedestrian traffic at all hours of day and night, and offers