Braamfontein has been in the forefront of the revitalisation of the CBD

RELATED LINKS: Mayor to launch urban development zone THE mayor will launch the Johannesburg Urban Development Zone during a conference to highlight the benefits of investing in the inner city. Read more Joburg's Urban Development Zone THE Urban Development Zone tax incentive is a new scheme aimed at encouraging inner city renewal across South Africa. It takes the form of a tax allowance covering an accelerated depreciation of investment. Read more Manuel opens way for tax-break development zones THE regeneration of Johannesburg's inner city has been given further impetus with the proclamation on Thursday, 14 October of Urban Development Zones in Johannesburg and Cape Town. Read more Investments revive inner city THE energy has returned to Johannesburg's inner city. Rents have stabilised, business confidence has risen, and serious investment is pouring in. Read more New confidence in inner city regeneration OTHER cities around the country - and indeed the world - are showing great interest in Joburg's urban regeneration task force. Read more Region 8 THE Johannesburg Central Region, also known as the inner city, is where the original mining camps of the City of Gold were established towards the end of the 19th century. Read more

Newtown, in the city's CBD

UDZ to get green light THE much-anticipated Urban Development Zone in the inner city will officially be launched at a conference this week. August 15, 2005 By Anish Abraham HERALDING a new dawn for inner city development, Johannesburg Executive Mayor Amos Masondo is to launch officially the Urban Development Zone (UDZ) at a conference at the Parktonian Hotel on 18 August. The hotel is in Braamfontein, which has been at the forefront of the revitalisation of the central business district of South Africa's economic powerhouse. At the conference, a panel of experts from financial services companies and the South African Revenue Service will discuss the government's UDZ tax incentive. Minister of Finance Trevor Manuel has identified the Johannesburg inner city as the largest UDZ in the country, comprising about 18 square kilometres. Lebo Ramoreboli, a project consultant for area regeneration in the City's economic development unit , said the incentive should encourage increased investment in the central business districts of the country's major cities. Previously, Masondo has hailed the proclamation of the zone, saying it would contribute to securing the future of Johannesburg's city centre and that it complemented the efforts of the City and the provincial government. "The UDZ incentive allows for far more private sector investment than before, and makes redevelopment of existing building stock far more attractive and financially viable for property owners," he said. There will be an interactive expo at the conference at which City officials can network with property investors, owners, architects, planners, quantity surveyors, engineers, brokers, agents and interested members of the public, to give detailed explanations of how the tax incentive works. Highlights of the programme include presentations by Masondo, local and international case studies of successful UDZ incentive applications, a guided "taxi style" tour through the UDZ and development opportunities ahead of the 2010 Football World Cup. Ramoreboli said since the proclamation of the zone in October 2004, the City had received inquiries from more than 120 individuals and companies interested in taking advantage of the tax incentive. There had been 30 registrations by individuals and companies who were spending between R100 000 and R400-million on refurbishing buildings within the zone. To register for the three-day event and to get programme details, visit the UDZ conference website. For information on the tax incentive, contact Lebo Ramoreboli on 011 358 3442 or at lebor@joburg.org.za. Permission to use web site material Publishers may use material from this site free of charge, as long as: Credit is given to either the "City of Johannesburg website (www.joburg.org.za)" or to "Johannesburg News Agency (www.joburg.org.za)"; If the article is used online, a link is provided to the original article on this website; The name of the article's author is acknowledged; The webmaster is informed of how and where the material is used (fill in this brief online form). Johannesburg News Agency is operated by BIG Media at 011-484-1400 Print this Page E-mail this article to a friend Help using Joburg.org.za