The Local Government Residential Property Development Summit was a significant meeting that brought together the leadership of the Local Government, representatives from the private sector, and the Minister of Human Settlements, Mmamoloko Kubayi. The goal was to explore creative and innovative ways to efficiently provide human settlement. The summit offered a platform to address critical questions such as how to access more suitably positioned land for human settlement, what funding instruments can aid human settlement, and how to adopt Innovative Building Technologies in an affordable and sustainable way. As we chart the interplay between property development and local government, such meetings pave the way for a future of integrated, sustainable human settlements.
Cape Town’s Central Business District (CBD) saw a significant surge in property investment in 2022, totaling R3.5 billion across various sectors. The State of Cape Town Central City Report 2022 – A Year in Review (SCCR) highlighted the 22 property developments/redevelopments that took place last year, pointing to a clear path towards growth and stability in the postCOVID19 era.
Cape Town’s efforts to address unemployment have been successful, as the city has the lowest unemployment rate among South Africa’s metros. Mayor Geordin HillLewis recognizes the progress made but acknowledges that there is still much to do to foster economic growth, lift people out of poverty, and create jobs.