The city of Cape Town has illuminated the multipurpose development of the R4 billion River Club, the new home of African retail giant Amazon, with green light.
The development design aims to create a 150,000 square meter multipurpose space that spans two districts, divided into commercial and residential applications. The developers plan to use 31,900 square meters for residential use.
The city said development would include both market-driven and affordable housing opportunities. The latter is physically integrated with other housing units within the apartment.
It is expected that 5,239 jobs will be created in the construction stage alone. The project also said it would create up to 19,000 indirect and inductive jobs.
The other parts of development are:
59,600 square meters of office space.
20,700 square meters of retail space;
8,200 sqm hotel;
4,100 sqm gym;
Restaurant, conference, school, event space
The developers said that 20% of the floor space of a home will be allocated to affordable housing opportunities.
Amazon, a major US retailer, will become an anchor tenant and will open a base in the African continent.
“The planned multi-purpose development will be a big boost to the economy and the people of Cape Town in the aftermath of the country’s blockade of Covid-19,” said Mayor Dan Plato.
“The city carefully and thoroughly considered all submissions and concerns during the appeal process. We strongly need to balance investment and job creation, in addition to heritage and planning considerations. recognizing.
“It is clear that this development will bring many economic, social and environmental benefits to the region. We are working to revitalize the slowly recovering economy affected by Covid-19. We are committed to facilitating investment, “says Plato.
Development was approved as a concept, but was conditioned to require further stages of approval, requiring developers to submit detailed plans for various aspects of development, Plato said.
Development is expected to take place in stages, with construction expected to take three to five years.
The development of Presinkto 1 includes mixed use and a floor area of approximately 60,000 square meters. Precinto 2 will house the Amazon headquarters with a floor area of 70,000 square meters.
Amazon Establishes South Africa Headquarters for Land 4 Billion Cape Town Development
Source link Amazon Establishes South Africa Headquarters for Land 4 Billion Cape Town Development