Cape Town's city centre is set for a retail boom that will culminate in the establishment of what is being termed a 250 000m2 "central city shopping mall" with 900 shops - expected to be sustained by a 55 000 CBD residential population.
The "mall" concept, expected to be up and running by the end of next year, will not be a single mega-complex like Tyger Valley and Century City.
It will consist of a network of retailers over the entire city centre.
Coupled with this are plans to keep the heart of the city beating 24 hours a day, seven days a week, all year round, with a vibey culture in which people live and shop - even those who live on the outskirts.
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The 'mall' will consist of a network of CBD retailers It started with the Long Street precinct, which now operates almost non-stop and includes clubs, bars and retail outlets including clothing, art and book shops.
The "mall" plan is part of a strategy which has been quietly implemented by the Cape Town Partnership and the city council, together with a more organised informal trader network.
The V&A Waterfront is seen as a key ally in the plan, as it is part of the city centre.
Already retail giants including Pick 'n Pay, Spar and Shoprite were looking to open more stores in the city centre, while a "queue of retailers" was waiting to move into the Golden Acre, said property guru Theodore Yach, a founder member of the Cape Town Partnership and an architect of the strategy to rejuvenate city centre retailing.
A key component had been the resurgence in construction of living space in the city - the conversion of offices into flats and other initiatives, which was expected to see the residential population double by 2015, he said.
Formal and informal traders realise the value they have for each other By the end of next year there would be an extra 5 000 living spaces in the city centre.
And at the end of this year there would be 1 600 more hotel rooms, Yach said.
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