Face of Vaal triangle set to change
Development on the new city to start by the end of the year
THE VAAL triangle and Gauteng’s southern corridor is set to be transformed by a massive R11 billion mixed-use development on the Vaal River.
It is envisaged that the development will create a new city between Vereeniging, Vanderbijlpark and Sasolburg.
Called Vaal River City, it is to be developed on a 250 hectare site by the Vaal River Development Company, a special purpose vehicle established in 2008 by a black economic empowerment consortium (BEE) headed by Reggie Kukama and his partner Bridgman Sithole.
The development will comprise 400 000m of commercial office space, 60 000m2 of retail and leisure components, 5 000 residential units and 20 hectares of park areas, including a bird sanctuary and cycling lanes. A government precinct is also envisaged.
Historic site
Kukama said a “square of unity and remembrance” was also planned because this was one of the most historic sites in the country.
He said the Anglo Boer War peace treaty was signed in this area on May 31 1902, the Sharpville massacre happened nearby on March 21 1960 and South Africa’s current Constitution was signed by former president Nelson Mandela in the area on December 10 1996.
The consortium acquired the land from Giuseppe Plumari, the chief executive of Steyn City Properties, the developers of the massive multibillion-rand Steyn City Lifestyle Resort on an 800 hectare site north of Fourways, Johannesburg.
Plumari, who has a 30 percent stake in the Vaal River City project, said all the properties that made up the site for the project were owned by his company GIP Developments before Steyn City Properties bought into it.
“I had a spread of properties on corridors in this region and was looking for future growth potential in property development. When Douw (Steyn) expressed an interest in developing Steyn City as his legacy, the focus of the company narrowed down to developing Steyn City.
“We then looked to sell off the tracts of land that did not fit with our vision. Hence we decided to bring in a BEE consortium to do the development,” he said.
Plumari said the development site was the most prominent land available in the region and situated among some of the major road networks, including the R59 provincial road to Johannesburg and the R42 Barrage Road and flanked by two bridges that crossed the river to provide access to Sasolburg.
He said the site had about 6km of coastline along the river, making it desirable from a leisure perspective.
“It’s not only highly accessible and visible, it is ideally situated between Vereeniging, Vanderbijlpark and Sasolburg and in terms of position has all the attributes to make it ideal for the new city. We will also be joining hands with local government in public private partnerships,” Plumari said.
Symbolic city
“To all the other property developers and major players in the industry, we urge you to come forward and join us in making this symbolic city a reality,” he said.
Kukama said the development would commence by the end of this year and create a new economic corridor, transforming this massive neglected area.
He said the entire shoreline of the Vaal River was privatised, which meant ordinary people were unable to access the river, but this project would change that and be the first development where the public could easily access and enjoy the river.
Plumari said all the necessary zoning and other approvals to commence with the development were already in place and they had the commitment of government to partner with them towards contributing services and infrastructure.
An estimated R500 million is to be invested in bulk infrastructure, including new on- and off-ramps linking the R59 from Alberton to Sharpville. The private sector was planning to invest more than R4 billion into this development, which would stimulate economic activity in the corridor.
“Once completed, it is estimated the development will be worth between R7 billion and R11 billion,” Plumari said.