Executive Mayor Herman Mashaba was joined by MMC for Economic Development, councillor Leah Knott as they announced a new batch of properties to be launched by Joburg Property Company (JPC) to the private sector for development across the city.
The land set for investment is expected to raise between R20 billion and R25 billion over the entire development stage. The purpose of the investment is to develop mixed-use affordable housing and student accommodation.
Mayor @HermanMashaba and MMC for Economic Development @LeahK28 will launch yet another prospectus of properties to be released to the private sector tomorrow through @jhbproperty pic.twitter.com/sVBRQxKTbu
— CFShawe (@CFShawe) March 31, 2019
The areas include Orange Grove, Wynberg, Randburg, Houghton, Rosebank and Joburg central. Of the properties identified, 500 had been abandoned or hijacked.
EM: @HermanMashaba
About 500 properties have been identified for re-development, these are either hijacked or abondoned. #BuildingNewJozi ^PS pic.twitter.com/XtBqyaJHJ9
— City of Joburg (@CityofJoburgZA) April 1, 2019
Today we are with the Executive Mayor @HermanMashaba and MMC for Economic Development @LeahK28, for the launch of the prospectus for the next properties with over R20 billion investment value. #BuildingNewJozi ^PS pic.twitter.com/AICGzVanr6
— City of Joburg (@CityofJoburgZA) April 1, 2019
Mashaba said the project had received overwhelming support from investors and the community at large and they have now opened a private tender process for more development.
EM: @HermanMashaba
The ongoing success of the innercity renewal project has received overwhelming support from investors and the community at large. #BuildingNewJozi ^PS pic.twitter.com/ThAbntJDBC
— City of Joburg (@CityofJoburgZA) April 1, 2019
Mashaba hoped that redevelopment in the inner-city would create confidence in the market as 84 buildings were approved by the city council and are set to deliver 4 000 units of student accommodation and low-cost housing.
Our efforts in the inner city are creating the necessary confidence to allow other private sector players to make substantial investments in Johannesburg #BuildingNewJozi@LeahK28 @jhbproperty
— Herman Mashaba (@HermanMashaba) April 1, 2019
84 buildings by the City Council, will deliver an estimated 4 000 units for student accommodation, small business premises and even more affordable accommodation for low-income households. #BuildingNewJozi ^LM pic.twitter.com/LxJk3BFmEA
— City of Joburg (@CityofJoburgZA) April 1, 2019
Today the Inclusive Developments Prospectus Launches. We are looking forward to sharing how to Grow the Economy Through Property. #BuildingNewJozi #TurningJoziIntoAConstructionSite @CityofJoburgZA @saibpp @SAPOA_SA pic.twitter.com/Xcb3QiGzq0
— Joburg Property Co (@jhbproperty) April 1, 2019
Mashaba added that he was aware of the safety concerns when it came to new development projects and had allocated resources from the budget to recruit 1 500 Metro police officers who would work with the anti-hijacking unit.
Related article:
https://northeasterntribune.co.za/216954/khaya-lam-project-private-property-reward-30-deserving-families-title-deeds/
