Cape Town council greenlights strategic property deals to enhance community services
In a move highlighting the City’s commitment to social improvement and economic growth, Council this week approved 11 property transactions in communities across the metro.
Image: Freepik
The Cape Town City Council has approved 11 significant property transactions this week, aimed at addressing housing demands, fostering business initiatives, and enhancing educational facilities across various communities within the metro.
These strategic decisions are part of a broader vision to utilise public land for positive socio-economic outcomes.
Among the approved transactions is a notable lease agreement with the New Horizon Community Initiative, a non-profit organisation tasked with managing the Ravensmead Business Park. This park is home to numerous small businesses that together employ 119 local residents, empowering the community economically while stimulating job creation.
Another significant transaction involves the sale of a parcel of land in Belhar to the Western Cape Infrastructure Department. This land is earmarked for the establishment of a new school, highlighting the city's focus on educational development. In a strong show of commitment to social welfare, the City will offer this prime land at a mere 10% of its market value, making this initiative more accessible to the provincial department.
The City will also transfer land in Wesfleur, Atlantis, to pave the way for the development of essential residential properties, recognising the pressing need for adequate housing in the region.
“These transactions are once again prime examples of the City’s smart real estate approach, where public land is used for positive socio-economic outcomes,” said Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth.
“By enabling these projects, the City continues to fulfil its commitment to community development that ultimately drives economic growth.”
The range of these property transactions exemplifies how municipal investments can lead to significant benefits for local communities, creating a ripple effect that promotes both social and economic well-being. As Cape Town looks ahead, these initiatives are poised to catalyse further growth and innovation within the metro, reinforcing the city’s status as a thriving hub of opportunity.
IOL