Gauteng buys into CBD

Posted On Tuesday, 21 October 2003 02:00 Published by eProp Commercial Property News
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Gauteng government plans to establish a government precinct in the central business district of Johannesburg, details of which are expected to be released next month.

Mbazima ShilowaThe announcement, by premier Mbhazima Shilowa yesterday, is in line with efforts by the provincial government to entice business to return and rejuvenate Johannesburg city centre following an exodus of businesses for the northern, eastern, western and southern suburbs.

Addressing the opening of the Blue IQ Smart Partnership conference at the Sandton Convention Centre, Shilowa said the provincial government, which occupied 120,000m² of space in Johannesburg, had recently bought the buildings after renting them since 1995.

"We hope this will encourage the private sector to invest more in the regeneration of the city," said Shilowa.

Blue IQ CEO Pradeep Maharaj called on private sector companies to invest in the 11 projects that Blue IQ had identified as areas for economic growth in the province.

Blue IQ is the multibillion-rand initiative to invest in economic infrastructure development in identified big projects.

These projects, excluding the Gautrain Rapid Link between Johannesburg, Pretoria and the Johannesburg International Airport, were valued at R3,7bn.

The projects include the innovation hub for technological advancement, Newtown precinct as an arts and culture centre, and the automotive cluster that represents the concentration of automotive assemblers.



Last modified on Saturday, 17 May 2014 14:56

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