This Chinese Firm Wants To Build A R80 Billion Miniature City In Jo’Burg [PIC]

06 Nov 2013 by Jasmine Stone in Real Estate

Related Posts

• Cape Town's Urban Footprint Has Increased By 13 Million Square Metres Since 2012
• St John's College In R60 Million Lawsuit Over Pupil's Suicide After Sexual Abuse Claims
• The V&A Waterfront Moves On With Massive R20 Billion Project To 'Reclaim Land From The Sea'
• From Glamour To Gloom: South Africa’s Top Luxury Hotel Now An Abandoned Relic
• About The 2024 International Spirits And Wine Festival’s Three-City Tour

A Chinese firm named Shanghai Zendai plans to build a mini city in Johannesburg on the 1 600ha of land and buildings it bought from explosives company AECI for R1 billion. Shanghai Zendai say that their development will be the future centre of Johannesburg.

ENSafrica, who represented Shanghai Zendai in the deal, said in a statement on Tuesday that the deal will see the Chinese firm invest approximately R80 billion in the project, creating approximately 24,000 direct jobs over the next 10 to 15 years.

According to ENSafrica Shanghai Zendai wants to develop the land for seven purposes.

* Finance and trade
* Industrial zone (light industry – warehousing, manufacturing)
* Convention centre
* African heritage theme park
* Education and training (skills transfer)
* Sports and recreation
* Community (planning for 30 to 35K families to live there)

Here’s a map of the land sold byAECI.

[Source : Bloomberg]

• ← WATCH: Chanel No.5’s New Ad Featuring Marilyn Monroe [VIDEO]
• World’s Fattest Man Finds Love With 7/10 American Woman [PICS + VIDEO] →

• 2oceansvibe Partners

  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  • 
  •