We are excited to announce the re-establishment of the City of Johannesburg’s Property Release Programme.
The programme was established in 2019 as part of the Department of Economic Development’s investment attraction initiatives, which aims to leverage the City’s property portfolio to help unlock multi-billion-rand investments from the private sector through mega property development projects.
The properties are released to the private sector for mixed use development across the City’s regions in a phased approach, with this prospectus of 11 properties being the third development phase of the project.
Previous phases of development include the landmark Jewel City Development, which was an extension of the prominent Maboneng Precinct.
This phase will include developments in Orlando West, Kew, Braamfontein, Suideroord, Diepkloof, Orlando Ekhaya and the inner city, with more properties to be released in line with the City’s plans for regional integrated development in the inner city and all its regions.
More than 500 properties have been identified across the City for mixed use including student accommodation, affordable housing, retail, and precinct development. These are properties that have been abandoned, open land parcels and previously hijacked buildings.
These properties, worth an investment value of over R2 billion, will be managed and administered under the custodianship of the Joburg Property Company (JPC). Since its launch, the programme has experienced administrative challenges including delays caused by the Covid-19 pandemic and a subsequent backlog in tender and administrative processes
The re-establishment of the programme has been widely welcomed by the business community, including the Johannesburg Business Forum.
The re-launch affirms our commitment to working collaboratively with the private sector to unlock strategic Public-Private Partnerships that are in the interest of the residents of Johannesburg.
The Multi-Party Government has made a commitment to drive R30 billion worth of investments into the City within the year, and through the City’s Trade and Investment Department, attract and retain new business that will put more money in the City’s wallet and improve service delivery and job creation opportunities.
Requests for Proposals (RFP) for the earmarked properties are available and currently active on the City’s public tender board:
ENDS
For media enquiries, please contact:
Tamlyn Geldenhuis
Media Liaison Specialist
Office of the MMC: Economic Development
060 543 4703
13/09/2022
