R44bn development a key driver of job creation in city



26-01-2021
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Pretoria News
Source

THE ONGOING R44 billion development node in the east of Pretoria, branded the East Capital, will assist the municipality to be a key driver of job creation in the country.

This was the sentiment expressed by mayor Randall Williams, who said the project was part of the City’s vision to turn all seven regions into a hub of opportunity, creating an environment that enables the metro to be a job-creation leader.

“It is our duty, as government, to retain and attract investment by instilling confidence in existing and potential developers through the creation of an efficient and open planning process that will benefit those who will be investing in the municipality,” he said.

The planning of the R44bn Hazeldean node development started in 2006 with an idea to offer a “full circle living” lifestyle to residents. The 950ha mega city would include the 100 000m² Hazeldean shopping mall, shops, offices and much more right at the doorstep, thereby eliminating the need to spend hours commuting each day.

Located south of the N4 freeway, to the East of the Silverlakes Golf Estate, the new city will be accessed from the N4 through a new R90 million road – the PWV17 – which will link the N4 and the R21.

The development has been earmarked for the Gauteng rapid rail system on the route from Mamelodi to Midrand. Its master plan includes a mall, hospitals and educational facilities, with retail, hospitality and tourism components. Williams hailed the project as a new emerging development, which formed part of Tshwane’s broader vision of integrating various land uses in a well put together structure and development.

Hazeldean will provide an additional 11 000 residential dwellings, which include a secure lifestyle estate with educational facilities. Future plans include a 40 000m² office building and more than 800 000m² of commercial floor space.

The precinct comprises two main segments, being developed as phase one and phase two; 30% of phase one has been serviced and developed thus far.

Williams said the long-term economic impact of this development included the creation of 239 700 jobs during the construction phase and 177 520 jobs during the long-term sustainability phase.

“The gross geographic product is R149bn during the construction phase and R138bn during the sustainability phase. The rates and taxes impact as per the land use will be R44.2bn total capital investment and R400 million in total annual rates and taxes (12.8% residential and 87.2% non-residential uses),” he said.

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