Zones to turn Joburg into high-growth city
01 December 2016
The City of Johannesburg is sparing no effort to unlock “limitless economic opportunities” in the inner city through its multibillion-rand Urban Development Zone (UDZ) investment project.
Some of the major developments that are already in the pipeline or on the go include the redevelopment of Park Station and the transformation of the Carlton Centre precinct.
The UDZ encompasses the entire core of the Johannesburg inner city - from Fordsburg in the west to Jeppestown in the east, and from Bellevue in the north to the M2 freeway in the south.
The development zone includes Newtown, Hillbrow, Braamfontein, Yeoville, Troyeville, Doornfontein, Ellis Park, Bertrams, Wolhuter, Ferreirasdorp, Selby, Vrededorp, Marshalltown, City & Suburban, Fairview and Benrose.
The City is encouraging companies to invest in the UDZ so job opportunities could be created and the glow brought back into the heart of the City of Gold.
Speaking during a Roundtable Digital Broadcast at the SAB World of Beer in Newtown on Tuesday November 29, Ravi Naidoo, Executive Director of the City’s Economic Development Department, said Joburg was placing emphasis on developing the inner city and some of its old precincts.
“We are looking at old precincts such as Maboneng, Ghandi Square, Park Station and Carlton Centre and the potential they have in creating progress and development in the inner city,” said Naidoo.
He said the developments would go a long way towards meeting Executive Mayor Cllr Herman Mashaba’s 5% economic growth target. He said Mayor Mashaba wanted to see Johannesburg become an economic hub of not only Gauteng but also of the entire country.
Naidoo said the UDZ sought to attract investors into the inner city and ensure that small businesses and black-owned companies “have a place in this growth”.
“This is an exciting time for the Joburg inner city. This project will help unlock value in the Joburg CBD,” said Naidoo. “Let’s make Joburg a high-growth city going forward.”
South African Institute of Black Property Practitioners CEO Vuyiswa Mutshekwane said the inner city held a lot of stories and rich history of people born and raised in Johannesburg.
“[The institute] has been at the forefront of working with black property owners and it’s been a great pleasure to work with the City of Johannesburg as one of our strongest partners,” said Mutshekwane.
She applauded the City for sharing the plans it had for the inner city with its stakeholders.
The City’s Deputy Director of Integrated Regional Economic Development Lebo Ramorebuli said since the introduction of the UDZ, there had been growth in the number of investors in the inner city.
“We want to turn the inner city into an economic hub as we understand the strength of the economy of Joburg,” said Ramorebuli. She added the inner city lost its spark as a result of the rapid development of areas like Sandton.
“As the Department of Economic Development we understand that there is productive economy in the inner city,” she said. “There has never been a better time to invest in the inner city than now.”