City of Joburg reveals plans for major property developments

The Johannesburg City Council is setting the stage for major property developments in the Inner City, with over eighty properties identified for investment and development opportunities. The council is actively seeking developers and investors to participate in the tender process, aiming to revitalize the inner city and benefit all stakeholders involved. In an exclusive interview with CNBC Africa, Johannesburg City Manager, Lukhwareni Ndivhoniswani, shed light on the city's strategic plans and initiatives to transform the inner city into a hub of economic activity and growth. Ndivhoniswani emphasized the council's commitment to streamlining processes and facilitating ease of doing business for developers and investors. By dedicating teams to assist stakeholders interested in the inner city, the council aims to turn red tape into a red carpet experience. Working in collaboration with the World Bank, the city is implementing measures to expedite services such as electricity connections, rate clearance certificates, and electronic approval systems for plans, ultimately reducing the cost and time associated with business operations in the inner city. Additionally, the Johannesburg City Council is focused on providing incentives to attract investors to the inner city. While specific rebates are pending approval, Ndivhoniswani hinted at initiatives such as rebates and assistance in relocating occupants from illegally hijacked buildings. The council recognizes the importance of investing in bulk infrastructure, with projects planned to upgrade the drainage system to improve water management post-rainfall. In line with promoting economic empowerment and inclusivity, the council is implementing measures to cater to a diverse range of investors, from small players to major corporations. Ndivhoniswani highlighted the criteria for evaluating potential investors, emphasizing the importance of addressing the transformation needs of the city and fostering socio-economic development. Mayor's ambitious vision includes offering opportunities for various types of properties, including vacant stands, single blocks, and consolidated urban spaces, totaling up to 500 properties. This comprehensive approach aims to attract a wide range of investors and developers, setting the stage for transformative growth and development in the inner city. As the Johannesburg City Council continues to work towards realizing its vision for the inner city, stakeholders are eagerly anticipating the upcoming property developments and the opportunities they will bring for economic revitalization and urban transformation.