Remarkable Property development activity shows business confidence in Cape Town’s CBD

A view of Cape Town’s CBD skyline will show at least ten towering cranes at work on various new developments.

In spite of a sluggish global economy, business confidence is higher than ever with an estimated over R3 billion currently being invested in Cape Town’s CBD through these developments.

From the Portside building, which will be occupied by two corporate giants, Old Mutual and FirstRand; to Newspaper House; 107 Bree Street, NH Oscar Pearse, the Convention Centre and the Civic Centre, the CBD is abuzz with development and refurbishment.  

Chairperson of the Central City Improvement District (CCID), Rob Kane says since the beginning of this year the city’s CBD has experienced a wave of new developments thanks largely to working closely with other organisations in the city. 

The development of the Christiaan Barnard Hospital and complex on the Foreshore is also due to begin later this year.

“It’s clear that developers are making an investment towards being part of a new vibrant commercial hub in this world class city.” says Kane.

About CCID

The Cape Town Central City Improvement District (CCID) was established in 2000, the first City Improvement District of its kind in South Africa. The CCID is funded by property owners to provide complementary urban management services to a specific geographic area.

CCID services include supporting and augmenting the City of Cape Town’s safety and cleaning efforts in the Central City, ensuring that the environment is well managed, that social development issues are addressed and that the Central City is promoted as a leading business destination.

The CCID is managed by the Cape Town Partnership, a collaboration of the public and private sectors, working together to develop and promote Cape Town’s Central City.