Ekurhuleni puts municipal buildings to good use through leasing
The property is going to be developed by GDF Holdings (Pty) LTD.
The City of Ekurhuleni (CoE) has concluded two property lease agreements with a telecommunication company, GDF Holdings (Pty) LTD.
The CoE MMC for Infrastructure Real Estate, Kgopelo Hollo, revealed this at the Lease Agreements Summit in Kempton Park on September 15.
GDF Holdings leased municipal land for the development of infrastructure for telecommunication network transmission. The lease on the land will be for nine years and 11 months.
Speaking at the summit, Hollo said they expected more jobs to be created through this collaboration.
“Hollo called on investors who wanted to use municipal properties to visit the real estate offices based at the city’s customer care centres.”
Hollo urged developers to get authorisation from the city before making permanent developments on the leased property, adding any developments on the leased property will belong to the city when the lease expires.
