Benefits of Convention Centre

Posted On Tuesday, 06 February 2001 03:01 Published by
Rate this item
(0 votes)
CONSTRUCTION of the multimillion rand International Convention Centre on the foreshore is seen as the start of a new era of prosperity and economic development for the region.

CONSTRUCTION of the multimillion rand International Convention Centre on the foreshore is seen by the City of Cape Town Council as the start of a new era of prosperity and economic development for the region.
Thousands of jobs will be created in construction, catering, tourism and related industries when building starts in April this year. The investment signifies a new confidence in the city as a future economic powerhouse in Africa.

Councillor Kent Morkel, the City of Cape Town's Executive Committee member responsible for Economic and Social Development, believes the funding contributed by the City of Cape Town Council towards the massive project is proof of its commitment to the project.

"For a start, thousands of jobs will be created in the construction industry," he said. "economic benefits from the wages paid to workers will have a big impact on the lives of their families and the communities where unemployment has always been a problem."

The development is fully in line with the council's vision of a city in which local government, in partnership with all citizens, fights crime, creates jobs and combats the spread of Aids.

"We believe the convention centre will be the spark to ignite further development and planning processes with the emphasis on investment, job creation, economic development, infrastructural improvements and tourism," Councillor Morkel said.

"The development will also breathe new life into the foreshore and the city as well as increasing property values and generating additional rates income."

Local government, including the former Cape Metropolitan Council, initiated the process to make Cape Town a world-class destination and to capitalize on the huge international market for conventions.

Cape Town is already in the world's top 50 convention destinations and experts believe a world-class convention centre, with two auditoria for 1 500 and 600 people and exhibition space of 12 000 square metres, will attract thousands more tourists from abroad and elsewhere in the country.

"The City of Cape Town Council will continue to demonstrate its confidence in the city as a magnet for investment," said Councillor Morkel. "The council puts its money where its mouth is. Every citizen in the Cape Metropolitan Area will benefit from this initiative."


Publisher: Cape Business News
Source: Cape Business News

Most Popular

Residential property market gathering momentum, says Eazi Real Estate

Nov 18, 2020
Parklands_3_bed_sale_R1.999m_Eazi_Real_Estate
In this last quarter concluding in December 2020, the residential property market…

Lockdown impacts buying trends of generations of home buyers

Nov 15, 2020
Andrew_Golding_Golding_PropertyGroup
The Covid-19 pandemic and lockdown has been a catalyst for highlighting the different…

Second-hand shopping is being revolutionised and expanding the circular economy

Nov 18, 2020
EPP CEO_Tomasz Trzoslo
Conscious consumers are championing the resale of goods to reduce waste and extend the…

Pam Golding Properties awarded Best Real Estate Agency in South Africa in International Property Awards

Nov 18, 2020
IPA Awards Pam Golding Properties 2020 - 2021
Competing against real estate companies from around the country, this is the 14th year…

SA commercial real estate delivers in excess of 12% yield on equity

Nov 18, 2020
Steven_Brown (1)
A silver lining amongst the many dark clouds dominating South Africa’s current economy…

Please publish modules in offcanvas position.