select
|

R11bn city planned for the Vaal

This mega development settlement for the Southern Corridor is a tribute to the people of Sedibeng, which falls within government’s plans to centralise three local municipalities into one metropolitan during 2016.


Waterfront: An artist's impression of Vaal River City, which was unveiled by Gauteng Premier David Makhura

Called Vaal River City, the project is one of five "corridors" where housing and other economic development will be intensified. These are central Johannesburg with its diverse economic activity, Ekurhuleni, Tshwane, West Rand around Lanseria Airport, and the Vaal. Vaal River City is a partnership between Gauteng, municipalities and the private sector .The municipalities include Midvaal, Emfuleni and Sedibeng.

It will be anchored on the Vaal River, which flows through different areas in the Vaal Triangle.

The new city is said to provide a unique residential and commercial development, with road infrastructure and investments that will capture economic value and stimulate economic activity in the area. The development will connect all the townships in the area and provide access to key roads that link up Sasolburg, Vanderbiljlpark, Sharpeville and Emfuleni.

“In our view, a post-apartheid city must mirror our overall commitment to a society that is truly equal, where there is expanded access to socio-economic opportunities and where there is dignity and prosperity for all, “Makhura said.


The Premier said through such developments the provincial government aims to do away with RDP housing developments. “Together with the private sector, we are implementing large scale, sustainable mega human settlement projects on well located land with socio-economic opportunities”.

Speaking on behalf of the Vaal River City Development Company that is partnering with the Gauteng Provincial Government on the project, Chief Executive Reginald Kukama said residents will have access to essential services as it becomes a centralized metro and offer affordable housing on prime river location.

The development includes:

* Construction of government offices, which will administer all public-sector services to the Vaal Triangle community;
* About 60000m² of retail and lifestyle space;
* About 40000m² of office space;
* 20ha of parkland, including cycling and pedestrian paths;
* 5000 mixed housing units; and
* A rapid bus transport system similar to Johannesburg‘s Rea Vaya and Tshwane‘s A Re Yeng.

All the developments will be on a 250ha piece of land, which has 6km of river frontage.A total of 10000 jobs are expected to be created during construction and 19000 in the operational phase. Construction is expected to begin before the end of 2015.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK