• Cape Town Time:
BACK TO PRESS RELEASES

PRESS RELEASES

Today, the Economic Opportunities and Asset Management (EOAM) Portfolio Committee together with EOAM Mayoral Committee Member Alderman James Vos conducted an oversight visit to see the progress made by the Cape Town Market (Pty) Ltd (CTM) which is paving the way for a multi-million rand refurbishment. Read more below:

This lease transaction secures the significant strategic economic asset in the form of a world-class fresh produce market while re-capitalising an ageing capital asset funded by a partial rental offset.  See https://bit.ly/3bxeB1q

The upgrade includes accommodating the Buitemark traders within the expanded market footprint. The refurbishment has commenced with the construction and relocation of the Truck Stop, which will improve efficiency and accessibility for deliveries and collections at the market.

Alderman James Vos expressed his delight at the progress made and explained that this is a significant step in upgrading and modernising this strategic economic asset so that it can continue to provide jobs and food security to our communities.

‘The long-term tenure is in keeping with the City’s Business Facilitation, Retention and Expansion focus, which speaks to the specific needs of businesses supported by a dedicated Real Estate Services Unit which unlocks the opportunity to extract the best socio-economic return and the optimisation of municipal assets,’ said Alderman Vos.

Councillor Anda Ntsodo, the Portfolio Committee chairperson, commended the CTM management for keeping the market operating while navigating Covid-19 and construction challenges.

Privacy Policy Terms of Use