Cape Town CBD Flourishing

Posted by: Nate Berg

27 February 2009 - 5:00am

Major office and retail projects are adding new life to Cape Town's central business district. Though much investment centers around South Africa's 2010 World Cup, many expect the CBD investments to continue for years.

"Cape Town Partnership CEO Andrew Boraine says in the past seven years the cumulative investment into the city centre has touched R14-billion while another R24-billion is scheduled to be pumped into the area in the next three to five years."

"A sizeable chunk of this capital expenditure will develop public infrastructure ahead of the country’s hosting of the World Cup Soccer in 2010 with projects including the Cape Town station refurbishment, station precinct redevelopment and a R500-million upgrade to the electrical infrastructure."

"However, Boraine says it is the office and retail accommodation investment that has generated the highest levels of excitement. Likening it to 'experiencing a retail revolution', he says the residential drive peaked at 3500 inner city apartments and the pendulum has returned to office accommodation."

Full Story: Central CT regenerating

Source: iAfrica, February 25, 2009