April 13, 2005
By Lucky Sindane
POTENTIAL investors are being urged to attend the launch of the R400-million Orlando Ekhaya development initiative on Monday, 18 April.
The Johannesburg Property Company (JPC) will outline details of investment opportunities during a presentation at the Orlando Power Station in Soweto at 11am.
Orlando Ekhaya is regarded as the highest profile investment project in Soweto and will offer residents of Soweto retail and entertainment facilities that have previously been found primarily in the city's northern suburbs.
The Orlando Ekhaya precinct, at the intersection of Old Potchefstroom and Nicholas roads in Soweto, is around 300 hectares of prime property, bundled and zoned into more than 90 000mē of development space.
The vision for the precinct includes shopping centres, recreational and entertainment facilities, business nodes, and hotel and conference facilities.
It is managed by the JPC, the agency that manages and develops the City's immovable property.
The City of Johannesburg has already spent R1-million on land preparation and has budgeted another R19-million for seed investment. The total investment projected for the precinct is R400-million.
Project manager Alan Dinnie says interest is growing and garnered attention at the recent MIPIM international property exhibition in France, where the project was highlighted.
"Even community awareness is growing everyday," he adds. "I have received many calls from Soweto-based business people who are very excited about the proposed development."
The precinct, which has easy access from the city CBD and Johannesburg's southern regions, is within three kilometres of the N1 highway.
Many Soweto businesses are set to gain directly from the Orlando Ekhaya development. Says Dinnie: "It is a requirement of the proposal call that all development proposals demonstrate the inclusion of Soweto businesses, be it in the form of joint venture partnerships, contractors or tenants of the completed development."
Ten development initiatives are already underway, but the real opportunities lie in the range of developments for which the JPC is calling for proposals over the next three months.
The developments currently taking place include hotel and conferencing facilities, a waterfront development, office parks, residential developments ranging from medium to high-end value and an upmarket shopping complex.
"This project should attract a range of developers and investors," said Dinnie.
Applications are currently opened and will close on Tuesday, 21 June 2005.
Applications may be made by completing the Request for Proposal document, which is available from JPC's offices on ninth floor, Braamfontein centre, 23 Jorrissen Street, Braamfontein. A non-refundable deposit of R1 000 is payable for each document.
For more information contact Alan Dinnie on 011 339 2700.
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