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R6bn to develop Pretoria's inner city

Posted On Thursday, 15 August 2013 15:31 Published by Commercial Property News
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Consortium spearheaded by veteran entrepreneur Anna Mokgokong is expected to pump R6bn into the development of a vast piece of land in Pretoria.

Anna MokgokongA Consortium spearheaded by veteran entrepreneur Dr Anna Mokgokong is expected to pump R6-billion into the development of a vast piece of land in Pretoria over the next decade.

Tsoseletso Consortium – including Mokgokong’s Community Investment Holdings, Corrie Group and Sisa Ngebulane’s Billion Group – won the contract to lease and develop the western part of the Pretoria inner city for the next 100 years.

The consortium was on Tuesday announced as the winning bidder of the lucrative West Capital Project.

In an interview at her palatial home in the chilly suburb of Waterkloof in Pretoria, Mokgokong said the consortium would use the land to build student villages. She said members of the consortium would head to the US in the next two weeks to inspect student villages that already exist there.

“We want to look at the best standards and practices and adopt a model for our own related programme,” she said.

She said the student villages would be structured to suit the living conditions of students, including those who are single and those who are married. “We want a person to have a choice of whether they want to stay in a bachelor’s flat, single or double rooms, or in family units,” Mokgokong said.

Apartments would be built to accommodate low-income and high income earners. Penthouses will attract high-income earners to also live in the city.

She said buildings that were dilapidated, like Schubart Park, will be prioritised. “We want people to be able to live close to where they work so that they can walk to work,” she said.

Marabastad is one of the city’s run-down suburbs that would be in the sights of the developers. “We want to take a long-term view in transforming the area with an aim of encouraging people to live there. We are also going to build libraries, malls, sport facilities and restaurants so that people can easily make the city their home.”

She said small businesses were also going to benefit from the project. “We are going to need plumbers, electricians, quantity surveyors, engineers and many other types of service providers.”

The aim of the programme is to make the Pretoria inner city an area accessed only through public transport, bicycles and by walking. “People should use bicycles on the main roads. Or they should use public transport or walk to get around.”

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