Gauteng Business 2020/21 edition
The 2020/21 edition of Gauteng Business is the 12th issue of this highly successful publication that has established itself as the premier business and investment guide for the Gauteng Province. In addition to the regular articles providing insight into each of the key economic sectors of the province, there are special features on infrastructure investment programmes and plans for the establishment of Special Economic Zones (SEZs) as a means to boost economic growth. Another feature on construction and property underlines the importance of spatial planning in the region’s future. Ambitious plans for the City of Johannesburg are outlined, both in the journal's editorial pages and by the Johannesburg Development Agency (JDA).
The 2020/21 edition of Gauteng Business is the 12th issue of this highly successful publication that has established itself as the premier business and investment guide for the Gauteng Province. In addition to the regular articles providing insight into each of the key economic sectors of the province, there are special features on infrastructure investment programmes and plans for the establishment of Special Economic Zones (SEZs) as a means to boost economic growth. Another feature on construction and property underlines the importance of spatial planning in the region’s future. Ambitious plans for the City of Johannesburg are outlined, both in the journal's editorial pages and by the Johannesburg Development Agency (JDA).
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
SPECIAL FEATURE<br />
collectively on supplementary<br />
public space safety, cleaning and<br />
maintenance is estimated to be<br />
about R61-million annually.<br />
The <strong>Gauteng</strong> Partnership<br />
Fund (GPF) has attracted more<br />
than R3.5-billion in private<br />
sector funding for affordable<br />
housing in the province since<br />
2012. The Brickfields housing<br />
and rental development in<br />
Newtown was funded by the<br />
GPF and implemented by<br />
the Johannesburg Housing<br />
Company (JHC) as one of the<br />
first inner-city rejuvenation<br />
projects. JHC is a leader in<br />
converting bad buildings to<br />
useable rental space.<br />
The Johannesburg<br />
Development Agency (JDA)<br />
projects range broadly across<br />
many areas within the city, and<br />
include plans to use transport<br />
hubs to improve the lives of<br />
residents living in previously<br />
neglected areas.<br />
Private developer<br />
Indluplace Properties<br />
has purchased nine large<br />
apartment blocks, taking<br />
its total buildings in central<br />
Johannesburg CBD, Berea and<br />
Hillbrow to 23: 33% of the units<br />
are bachelor pads, 22% are<br />
two-bedroomed flats. The listed<br />
company (its major shareholder<br />
is Arrowhead) intends to<br />
“aggressively grow its portfolio”<br />
of high-yielding properties as it<br />
believes the rental market has<br />
huge potential.<br />
Property developments<br />
Quite what the future of office space will be remains to<br />
be seen in the wake of Covid-19. Investment and pension<br />
funds are heavily invested in commercial and residential<br />
property so this is something that will be closely<br />
monitored in the early <strong>2020</strong>s.<br />
The hugely successful Sandton model of office and<br />
accommodation development is being replicated across<br />
the province. Sandton’s 10 000 businesses and 300 000<br />
residents are spoilt for accommodation choices, but<br />
city-like developments are springing up in other parts of<br />
<strong>Gauteng</strong> as well.<br />
The newest is Castle Gate Lifestyle Centre, which is being<br />
built in Pretoria as the first phase in a multi-use development<br />
that will eventually comprise offices, medical facilities, a hotel<br />
along with a retail centre and more than 1 000 residential<br />
units. The R6-billion project is being undertaken by Atterbury<br />
and the Carl Erasmus Trust.<br />
The biggest is Menlyn Maine in the eastern suburbs of Pretoria.<br />
Not only is this a huge multi-use project, it also aims to be South<br />
Africa’s first “Green Precinct”. Professional services and consulting<br />
firm PwC has chosen the Waterfall City estate near Midrand as<br />
the site for its R1.5-billion headquarters, housing 3 500 employees<br />
with a total of 40 000m² of lettable space. The building is owned<br />
by Attacq and developed by Atterbury.<br />
Rosebank’s popularity as an office node continues to<br />
grow and Melrose Arch has proved a popular development,<br />
but none of this has stopped Sandton continue to expand<br />
and it remains first choice as the national base for several<br />
large companies. Recent new headquarters have been<br />
constructed for Discovery and Sasol.<br />
The trend called “semigration” has been having a<br />
downward effect on <strong>Gauteng</strong>’s residential property prices<br />
for some time. Semigration refers to people moving within<br />
the country – not quite emigrating – to the Western Cape.<br />
Pam Golding Properties CEO Andrew Golding told the<br />
Sunday Times in November 2019 that the Cape drought<br />
had led to other areas such as the Garden Route and the<br />
north coast of KwaZulu-Natal becoming more popular as<br />
destinations. ■<br />
17 GAUTENG BUSINESS <strong>2020</strong>/<strong>21</strong>
Change language