This is making Cida (the Community & Individual Development Association) a major inner city landlord, and goes a long way to realising its goal of 7,000 students. It has 1,600 at present.

The latest donor is French bank Credit Agricole, which has donated three connected buildings in Marshall Street, totalling more than 10,000m.

Rather than give it away to the market for next to nothing, we decided to give it to Cida, says a Credit Agricole spokesman.

The buildings (known as the French Bank buildings) would probably sell for R50m in the northern suburbs, but are worth hardly 10% of that in the CBD.

The same applies in the case of the FNB building in Harrison Street, donated last year, and a building given to Cida this year by Anglo American. All are between 12,000m and 14,000m including parking. So is Investecs old headquarters donated to Cida in 2000. Cidas total office area is about 60000m. And word is that a life assurer will also give them a property soon. Broll will provide free management

Part of the French Bank building will have an entrepreneurial hub to help students incubate their more than 110 business ideas into commercial enterprises. The property could also house the universitys library of donated business and IT books, worth more than R100m says Cida CE Taddy Blecher. Now we can become a proper campus with space where students move from building to building.

He hopes to start 2004 with at least 1500 first-year students in the building that Anglo American is refurbishing for Cida. This would be expanded in 2005 to 3,000 first-years in the FNB building, which the bank is spending R7m upgrading.

The timing couldnt be better, says Blecher. Im completely convinced this city is turning around. In three or four years time you will not be able to buy a building.

Financial Mail