Sascha Lee-Joseph
The Joburg Property Company (JPC) is making significant strides in the fiscal period of 2023/24 to tackle housing and student accommodation shortages in Johannesburg, aiming to reshape the urban landscape while stimulating economic growth and enhancing service delivery.
The JPC was established in 2000 and is mandated to manage and develop the City’s property assets to maximise social and commercial opportunities. Some of the projects it has concluded include the Melville 27 Boxes, which was built from recycled shipping containers boasting a 2400 square meter retail centre valued at R20 million in 2015 and the award-winning Johannesburg Council Chamber, which was completed in 2017.
Lucky Sindane, the spokesperson for the JPC, says it aims to drive investment, economic growth, and job creation by efficiently using City property.
The JPC’s planned developments span various regions of the City, with a focus on addressing diverse housing needs. Notable projects include the Diepsloot Phase 1: Riverside View Mega City Development in Region A, featuring mixed-income residential units, educational facilities, and recreational spaces.
Region B will witness mixed-use developments such as the Parkhurst Bowling Club, with a total anticipated investment value of R100 million. Meanwhile, in Region D, the Soweto Gateway project, with an estimated investment value of R3.2 billion, aims to deliver mixed-use residential units.
Region E will see the development of retail and residential spaces in Portion 4 of Erf 396 Wynberg at a cost of R500 million. Region F will focus on addressing the shortage of student accommodation through multiple planned developments.
Notably, Region G’s Southern Farms’ R27 billion development promises to bring housing and economic opportunities on a grand scale.
Sindane underscores the JPC’s dedication to realising value for the City and its residents, supporting economic development, and effectively managing property portfolios.
“We are committed to the successful completion of all planned projects, providing property and facilities management to maximise the city’s social, economic, and financial benefit,” he adds.
SOURCED FROM THE CITY OF JOBURG WEBSITE.
