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South Africa approves US $956m Harbour Arch development project

South Africa’s Municipal Planning Tribunal has approved the Harbour Arch development project set to cost US $956m and be largest mixed-use development of its kind in the Cape Town CBD.

The parcel of Foreshore land, spanning 5.3 hectares, was previously owned by Transnet, but has since been bought by Amdec for its mixed-use development. The rezoning application for the development was approved in August 2012. Amdec, however, then applied to amend the conditions of approval in December 2018. This was to account for a change in lease ownership and to adjust the size of the development to include residential units.

Also Read:Kenya to construct a new US $270m ‘Railway City’ in Nairobi

The Harbour Arch

The Harbour Arch will be developed using the same mixed-use principles and expertise that were successfully applied at the Amdec Group’s iconic and multi award-winning Melrose Arch precinct in the northern suburbs of Johannesburg.

The development project will be home to six individual tower blocks with a total 200 000m² of usable space, making it the first and largest mixed-use development of its kind in the Cape Town CBD. It will offer sought-after new urban living, ideal for working professionals, first-time buyers, investors, students and corporate long-stay accommodation.

Sustainable principles

The mixed use property will be built on sustainable principles and eco-friendly innovation. Integrated green building initiatives will include refuse recycling, water-saving devices and rainwater harvesting, a centralised district cooling facility and low-energy LED lighting. It will also house restaurants, cocktail bars, shopping, hotels, banking, medical services, and health clubs.

The development has been strategically located at the confluence of the N1 and N2 highways making it highly visible to anyone arriving in the city. This unrivalled location will also provide quick and easy vehicular access to the airport, the southern suburbs, the northern suburbs, the Atlantic seaboard and the winelands.

 

1 COMMENT

  1. Good Afternoon
    Hope you are well.How can we get involve as a venture capital company in this project.We have access to local as well overseas investors.

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