Project launched to bring business back to the city

Johannesburg - The Gauteng provincial government yesterday urged businesses that have fled the Johannesburg central business district (CBD) to return amid promises that things were about to get better in the inner city.

Jabu Moleketi, the MEC for finance and economic affairs for the Gauteng province, said: "Three years from now things would have changed."

The local and provincial governments have allocated R800 million for the redevelopment of the city centre.

"The advantages of businesses returning to the city centre is that the rental rates for office space is some R30 compared to about R100 for a single square metre rented at office spaces outside the city centre."

Amos Masondo, the executive mayor of Johannesburg, said: "The city centre was rising like a phoenix.

"This city is too beautiful and too valuable to be left to die," said Masondo.

The CBD rejuvenation project is being undertaken by the Johannesburg Development Agency (JDA) in a bid to attract businesses back to the city centre.

The project would focus on upgrading existing infrastructure in the city.

Graeme Reid, the chief executive at JDA, said: "We aim to attract investment into new developments, stabilise decline in the inner city, facilitate and secure improvements to city infrastructure which will result in the city being the best place to live, invest and visit."

Other areas that would be improved through the project were safety and security, informal trading taxi and public transport management as well as service delivery.

Reid also said the use of closed circuit television and a high police presence would help reduce the crime rate.

Six markets were planned, one of which was already operational in Yeoville.

A revamp of the Bree street taxi rank, which would accommodate 4 800 taxis and include 22 bus bays, was also under way.