In a subdued economic environment with muted investments in metros' inner cities, Cape Town's central business district bucked the trend with more than R7 billion worth of property investments last year.
This is according to the latest findings by the Cape Town Central City Improvement District (CCID).
The findings in the CCID's State of Cape Town Central City report 2023 show that property investments doubled from 2022 - a sign that the city has rebounded from the economic pressures since the pandemic.
Turning post-Covid corner
A total of 30 property developments or redevelopments were recorded in 2023, of which nine were completed (worth more than R1.3 billion), eight were under construction (valued at over R2.2 billion), 10 were in the planning phase (worth more than R2.6 billion), and three were proposed (around R1.1 billion).
The R7.3 billion in investments includes the Rubik, a mixed-use skyscraper valued at R600 million and designed to resemble the Rubik's Cube, the Neighbourgood 84 Harrington (R180 million) and the world's tallest aparthotel to be constructed from hempcrete blocks and The Barracks, a R150 million heritage development in Bree Street.
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'Musica' headed for SA
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Museum of military history
Symbolic home of soldiers and veterans worldwide
Camping ain’t for sissies
It enriches, yes, but sometimes leaves you poorer
Boks are fully loaded
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India draw first blood
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Make-or-break for Bok five
The Springboks get down to business tomorrow in their opening game of their end-of-year-tour against Scotland at Murrayfield in Edinburgh and they will be gunning to get off to the best possible start. They will be eager to cap a magnificent year with a clean sweep on their tour to the UK. Ross Roche looks at a quintet of players that will be eager to seize their chance to impress on tour.
Some game-changing boxes still left for coach Rassie to tick
The Springboks take on Scotland, England and Wales over the next three weekends in Edinburgh, London and Cardiff respectively.
Jones wary of Dupont 'threat'
Evolving France face Eddie Jones' struggling Japan in the a November international today with superstar Antoine Dupont (above) making his first 15-a-side appearance for the hosts in more than a year.
Drafting Suaalii was never a risk
WALLABIES: FACING ENGLAND IS A HUGE 'OPPORTUNITY'
'Rusty' Azzurri not bothering Quesada
Gonzalo Quesada expects his Italy team to be ring rusty when they take on his home nation Argentina in the Azzurri's opening November Test match today, hoping to end a positive year on a high.
