Areas and Places

Green light for Cape Health Tech Park, Atlantis SEZ, Cape Town Market & Green Point Urban Park

Cape Town

The City of Cape Town approved several significant real estate initiatives this week.  

Council approved the transfer of City-owned land for the establishment of the Cape Town Health Technology Park which is set to unlock economic benefits through the expansion of the local manufacturing sector.

In his speech to Council, the City’s Mayoral Committee for Economic Opportunities and Asset Management Alderman James Vos said that as far back as 2011, the benefits of establishing the proposed Cape Town Health Technology Park were known.

But now, considering the impact of Covid-19, Capetonians have even more reason to celebrate and acknowledge the massive socio-economic benefits of expanding pharmaceutical manufacturing capacity in our metro”.

The Cape Town Market in Epping received Council’s final approval for the conclusion of a lease with the Cape Town Market (Pty) Ltd. for a period of thirty years for the purpose of operating the Cape Town Fresh Produce Market.

Approval for the lease (handed down on Friday, the 4th of December) will secure significant strategic economic assets in the form of a functioning fresh produce market, recapitalize an ageing capital asset at no direct cost to the City and resolve any longstanding social and environmental challenges through the relocation of the Buitemark informal traders from their current location on site.

This clearly demonstrates the City’s smart real estate approach by extracting maximum socio-economic benefit from public assets, all while navigating complex statutory requirements in an efficient and transparent manner,” said Alderman Vos.

Council also gave final approval for the transfer of key Atlantis industrial properties to the Atlantis Special Economic Zone Company Ltd. at a market related sales price.

These City-owned properties are within the declared Special Economic Zone (SEZ) in the Atlantis industrial area. Council endorsed the recommendation that the ASEZ Company takes full responsibility for the use, management, and control of the property assets in terms of a lease agreement with early occupation from the date of sale.

This will provide the prospective bidders and the Independent Power Producers office with sufficient guarantees that the ASEZ Company can legally contract on the land, which given our hard pressed economy and need to stimulate manufacturing and job creation, needs to happen as swiftly and efficiently as possible”.

The City has concluded statutory processes to ensure the reopening of the Green Point Urban Park Tea Room venue in time for the holiday period.

The park was closed to the public due to lockdown regulations from April to August.

The Green Point Urban Park, up until the forced closure, hosted more than one million visitors a year, both local and international.

Not only is the City Green Point Urban Park a world class asset, but it is also fit for purpose in these times of social distancing and with the need for safe, controlled open areas” said Alderman Vos.