Several significant property transactions were approved by Council yesterday, Thursday, 3 December. These smart real estate initiatives will result in far ranging socio-economic benefits, from a Green tech economic boost in Atlantis, to a new Cape Health Tech Park, to the reopening of the Green Point Urban Park tea room just in time for the holidays. Read more below:

The City’s Mayoral Committee for Economic Opportunities and Asset Management Alderman James Vos mentions the key transactions in his speech to Council.

Cape Health Tech Park to bolster SA’s Pharmaceutical manufacturing capacity

Council approved the transfer of City-owned land in Ndabeni for the establishment of the Cape Town Health Technology Park, which is set to unlock major economic benefits by expanding the local manufacturing sector.

‘As far back as 2011, the benefits of establishing the proposed Cape Town Health Technology Park were known. But now, in light of the impact of COVID-19, Capetonians have even more reason to celebrate and acknowledge the massive socio-economic benefits of expanding pharmaceutical manufacturing capacity in our metro,’ said Alderman Vos.

Cape Town Market in Epping gets a new lease on life

Council granted final approval to conclude a lease with the Cape Town Market (Pty) Ltd for a period of 30 years for the purpose of operating the Cape Town Fresh Produce Market.

In a nutshell, today’s approval will:

  • Secure a significant strategic economic asset in the form of a functioning fresh produce market;
  • Re-capitalise an ageing capital asset at no direct cost to the City
  • Resolve long-standing social and environmental challenges through the relocation of the Buitemark informal traders from their current location onto the site.

‘This clearly demonstrates the City’s smart real estate approach by extracting maximum socio-economic benefit from public assets, all while navigating complex statutory requirements in an efficient and transparent manner,’ said Alderman Vos.

Atlantis Special Economic Zone Company is open for business

Council gave final approval for the transfer of key Atlantis industrial properties to the Atlantis Special EconomicZone Company Ltd. at a market related sales price.

These City-owned properties are within the declared Special Economic Zone (SEZ) in the Atlantis Industrial area, and will be used to leverage economic potential.

  • In the last six months, the Atlantis Special Economic Zone (ASEZ) has received applications for investments  worth R3,5 million, which will support 800 jobs when approved.
  • This is no small feat but the result of targeted strategies to ensure that Cape Town is a destination of choice for investments, both local and international.

For the sake of making it easier to invest and develop the Atlantis SEZ, Council endorsed the recommendation that the ASEZ Company takes responsibility for the use, management and control of the property assets in terms of a lease agreement, with early occupation from the date of sale.

‘This will provide the prospective bidders and the Independent Power Producers office with sufficient guarantees that the ASEZ Company can legally contract on the land, which given our hard pressed economy and need to stimulate manufacturing and job creation, needs to happen as swiftly and efficiently as possible.

‘As the key local government partner, the City will continue doing our part to enable job creation and economic benefits for the Atlantis community,’ said Alderman Vos.

Green Point Urban Park Tea Room reopens

The City has speedily concluded statutory processes to ensure the reopening of the Green Point Urban Park Tea Room venue in time for the holiday period.

It was with a heavy heart that the park was closed to the public due to lockdown regulations from April to August, and the reopening is good news for residents.

The Green Point Urban Park, up until the forced closure, hosted more than one million visitors a year, both local and international.

‘Not only is the City Green Point Urban Park a world class asset, it is fit for purpose in these times of social distancing and with the need for safe, controlled open areas,’ said Alderman Vos.

*Picture taken by Bruce Sutherland (City of Cape Town Photographer)

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