Cape CBD draws big investments

Posted On Thursday, 13 June 2002 10:01 Published by
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More than R2.7-billion in new investments have been attracted to Cape Town's central business district since the inception of the city's City Improvement District 19 months ago
More than R2.7-billion in new investments had been attracted to Cape Town's central business district since the inception of the city's central City Improvement District (CID) 19 months ago.
This brings the total amount of investment planned, approved or under way in the central city to some R8.7-billion.
Speaking at a business breakfast on Tuesday, Cape Town Partnership (CTP) CEO Michael Farr said the CTP had set itself a target of R1-billion of new investments for the 2002 calendar year, which was a little ambitious.
'However, I am pleased to confirm that in the first five months of 2002, we achieved over R100-million a month of new investment to reach R535-million from January to May this year, which means we are right on target,' Farr said.

He said the the new investment levels of R100-million a month over the last five months were in keeping with the investment levels secured since the CID came into being.
'This means that for 19 consecutive months, we have averaged well in excess of R100-million a month in new investments,' Farr said.


Publisher: Sapa
Source: Sapa

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