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Soweto calls for investors

first_img15 April 2005The R400-million Orlando Ekhaya development initiative, regarded as the highest profile investment project in Soweto, will offer residents of the famous township the kind of retail and entertainment facilities normally associated with the city’s northern suburbs.Developers interested in investing in the project have been invited to inspect the site and listen to a presentation by the Johannesburg Property Company (JPC) at the launch of the initiative at the Orlando Power Station in Soweto at 11am on 18 April.Those who miss the launch will still have until 21 June to make proposals, and should contact project manager Alan Dinnie on (011) 339 2700 or visit the JPC’s offices on the ninth floor, Braamfontein centre, 23 Jorrissen Street, Braamfontein.The Orlando Ekhaya precinct, at the intersection of Old Potchefstroom and Nicholas roads in Soweto, is around 300 hectares of prime property, bundled and zoned into more than 90 000m² of development space.The vision for the precinct includes shopping centres, recreational and entertainment facilities, business nodes, and hotel and conference facilities.It is managed by the JPC, the agency that manages and develops the City’s immovable property.The City of Johannesburg has already spent R1-million on land preparation and has budgeted another R19-million for seed investment. The total investment projected for the precinct is R400-million.Dinnie says interest is growing and garnered attention at the recent MIPIM international property exhibition in France, where the project was highlighted.“Even community awareness is growing”, Dinnie says. “I have received many calls from Soweto-based business people who are very excited about the proposed development.”The precinct, which has easy access from the city CBD and Johannesburg’s southern regions, is within three kilometres of the N1 highway.Many Soweto businesses are set to gain directly from the Orlando Ekhaya development. Says Dinnie: “It is a requirement that all development proposals demonstrate the inclusion of Soweto businesses, be it in the form of joint venture partnerships, contractors or tenants of the completed development.”Ten development initiatives are already under way, but the real opportunities lie in the range of developments for which the JPC is calling for proposals over the next three months.The developments currently taking place include hotel and conferencing facilities, a waterfront development, office parks, residential developments ranging from medium to high-end value, and an upmarket shopping complex.Source: City of Johannesburglast_img

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