About Me

My photo

I am a qualified Attorney. I specialise in Property Law, Commercial Law, Corporate Law and Trusts.
 
Please visit our website at www.prop-law.co.za for more details.
 
I am an elected Committee Member of the Property Committee of the Association of Pretoria Attorneys and through my involvement, I like to ensure that I am constantly at the "sharp-end" of Conveyancing Practice.

I am the elected Chairman on the Gauteng Council of SAPOA. The South African Property Owners Association (SAPOA) is the biggest and most influential institution in the property industry. SAPOA members control about 90% of commercial property in SA, with a combined portfolio in excess of R150 Billion (about $22 Billion). I am also on the National Council and the National Legal Committee of SAPOA.
 
Member of the Institute of Directors South Africa and Member of the Sirdar Governance Panel.

11 April 2014

Construction to start on 'new city to rival Sandton'

Construction to start on 'new city to rival Sandton'

The construction of a 'new city to rival Sandton' in northeastern Johannesburg kicks off early next year with Shanghai Zendai Property's R84 billion development of the Modderfontein property it bought from AECI.

It will include the building of schools, a university and a contemporary African art gallery.

An artist's impression of Shanghai Zendai Property's planned R84bn 'new city' in north-eastern Johannesburg.

Dai Zhikang, the founder of Shanghai Zendai Investments, said the group planned to build a 'new city' over the next 15 years that would focus on the retail and residential sectors.

The development will house about 100 000 people, focused mainly on international residents, the local middle class and pensioners.

The housing complex and schools form part of Modderfontein's nine functional zones, which include services ranging from a central business district to an international conference and exhibition centre.

About R3bn has been committed to develop infrastructure over the next three years, and a Gautrain station is planned for the next four to five years.

'Our vision that the new city will become a unique landmark that will transform Modderfontein into an international cosmopolitan asset with a cultural and art element,' Dai said.

About 50 000 jobs would be created and 1 000 firms were expected to become tenants on completion. An application for the area to be declared an economic development zone had been lodged with authorities.

Chinese banks have made funding available to the project, and the group aims to approach local financial institutions for further funding.

The Gauteng government has endorsed the plan, with Premier Nomvula Mokonyane suggesting that it would benefit neighbouring residents in Alexandria and Tembisa townships.

She noted that Chinese investors would comply with regulations, and locals would be consulted on the development later this week.

Business Report


Gareth Shepperson
Commercial and Property Attorney











3 comments:


  1. Repointing brickwork is a job that needs ability for being executed properly. One of many reasons for having brickwork
    commercial builder Gold Coast maintenance tasks is usually having the ability to adequately accomplish the task without producing more deterioration compared to what has now happened on the structure.

    ReplyDelete
  2. Nice post about Home Design & Construct which I am finding since long time .I have found same helpful info from commercial builders gold coast blog that's really nice .Please keep it up .

    ReplyDelete
  3. Your post is really helpful for Home design & Construction.I am finding this kind of helpful real estate blog and content .I have found some important info and helpful tips from commercial builders brisbane blog and their info was really fantastic.But you have posted nice so please keep it up .

    ReplyDelete