Eastern Johannesburg CBD enjoying ongoing investment

Posted On Friday, 06 April 2012 02:00 Published by eProp Commercial Property News
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Phase 2 refurbishments to Jewel City, a high-security district in the eastern part of the Johannesburg CBD and located adjacent to the Maboneng Precinct, were completed this month

Marc WainerHome to about 300 leading diamond dealers, jewellers, diamond laboratories and industry schools and the base for the SA Diamond Regulator and State Trader, the refurb included an additional 137 dedicated visitor parking bays adjacent to the visitor sign-on station.

David Rice, Chief Operating Officer at Redefine, says the parking bays support the R30 million extension to the new head office in Regulator House for the SA  Diamond Regulator and the State Trader. The  area was increased from 1 630 meters squared to 2 480 meters squared and now includes the provision of a secure loading bay and new state of the art training and conference facilities.

The entire precinct is now just over 43 000 m2. Rice says Redefine has invested heavily in the precinct and if demand allows will add an additional 5 000 m2 to accommodate further parking, offices and beneficiation space. “This really is the home for all major diamond deals in South Africa and we are privileged to be associated with this growing precinct in the City Centre,” he says.
 
Rice says additional security measures that have been implemented are working well for the precinct, as is the additional parking area. “One of our latest developments is that we have concluded an agreement with Propertuity, developers of the Maboneng Precinct.

The Maboneng Precinct, located directly to the East of Jewel City, is a private inner city regeneration project. Maboneng has grown from one development, Arts on Main in 2009,  to over 6 developments including residential, commercial and retail space at the beginning of 2012. This has expanded the community of people who live and work in this part of the city to over 1 500 people.

“Propertuity have worked together with Jewel City on a number of efforts and are delighted that we have recently partnered with Redefine to provide secure parking within Jewel City for the masses of people flocking to the area in the evenings and on weekends for Maboneng events,”  says Hayleigh Evans, brand manager for Propertuity.

Rice says the relationship with Maboneng  also encourages added foot traffic and trade within Jewel City itself.

“This is particularly important now that our first five retail stores are complete. We have plans to extend this retail component even further over the next couple of months,” says Rice.

Last modified on Wednesday, 14 May 2014 18:30

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