Developers who have won the right to rejuvenate old buildings and build affordable housing in the city will need to hit the ground running.
There was an air of hope and excitement at the State Theatre in Johannesburg when developers who dared to inject R20 billion into the city gathered to be recognised for their role in a rejuvenation scheme that is set to mark the rebirth of the City of Gold.
Now the hard work begins, with each developer expected to solidify its promises by signing contracts with the city and establishing their individual implementation plans in the coming months. A mixed bag of financial investors have made commitments to support the scheme, such as the Social Housing Regulatory Authority and commercial property development financiers Tuhf, Absa, First National Bank and Investec.
“People are not like furniture – you can’t just move them,” says Makhunga. “When you move people, the city leads in that process; it’s not just the responsibility of the developer. Quite a number of stakeholders are involved in making sure that [we] comply with the laws of the country.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mashaba touts R20bn investment for Joburg inner cityJohannesburg Mayor Herman Mashaba has announced what he calls 'the single biggest property investment the city of Johannesburg has ever made through private sector development'.
Read more »
Mashaba announces R20bn investment for Joburg inner cityHerman Mashaba announced a R 20-billion property investment for the Johannesburg inner city.
Read more »
Private sector to invest R20bn in Joburg CBDMayor Herman Mashaba to release details of funds secured for inner city housing developments next week
Read more »
Private sector to invest R20bn in Joburg CBDMayor Herman Mashaba to release details of funds secured for inner city housing developments next week
Read more »
Private sector to invest R20bn in Joburg CBDMayor Herman Mashaba to release details of funds secured for inner city housing developments next week
Read more »
Mashaba touts R20bn investment for Joburg inner cityJohannesburg Mayor Herman Mashaba has announced what he calls 'the single biggest property investment the city of Johannesburg has ever made through private sector development'.
Read more »
Private sector to invest R20bn in Joburg CBDMayor Herman Mashaba to release details of funds secured for inner city housing developments next week
Read more »
Mashaba announces R20bn investment for Joburg inner cityHerman Mashaba announced a R 20-billion property investment for the Johannesburg inner city.
Read more »
JOBURG DREAMS: Mashaba announces R20-billion investment to rebuild Joburg’s inner cityAfter two years of talking about the need to rebuild the inner city, Johannesburg Mayor Herman Mashaba on Wednesday announced that R20-billion has been invested into turning Johannesburg’s inner city into a construction site with the aim of building affordable residential units and student accommodation.
Read more »
Prince William kicks off New Zealand trip commemorating Anzac DayBritain's Prince William has arrived in New Zealand for a two-day visit to commemorate wartime soldiers and visit survivors of last month's mosque attacks
Read more »
Cape Town to the rescue as rainbow pageant kicks off in the Rainbow NationWhen organisers of the 11th Mr Gay World pageant were left scrambling to find a new host city less than a year before the event, Cape Town came to the rescue.
Read more »