City approves R14bn Harbour Arch development in Cape CBD
Cape Town - The Amdec Group has been buoyed by the outcome of the Municipal Planning Tribunal meeting held on Thursday 24 October 2019, where its R14 billion Harbour Arch mixed-use precinct was approved.
James Wilson, CEO of the Amdec Group, said immediately after the meeting: “This is a big day for Cape Town and a big day for the Amdec Group. We are overjoyed at the City of Cape Town’s decision to support Harbour Arch, and we have no doubt that this project holds tremendous promise for the Mother City. Harbour Arch will create jobs and opportunities, boost investor confidence both locally and abroad, bolster our city's economy and benefit the Western Cape province as a whole.”
Within the context of the burgeoning Cape Town CBD, Harbour Arch occupies a strategic position at the convergence of major access roads, with easy entry points to and from the N1 and N2 highways.
Harbour Arch is set to be built on a 5.8-hectare site, with 198 000m2 of usable space and six individual towers. The site will also be home to two new hotels, to be operated by Marriott International, long-standing partners of the Amdec Group.
Harbour Arch represents a massive private sector investment into the city, estimated to create at least 13,000 construction jobs. Its credentials are further strengthened by the involvement of a reputable and committed developer.
Work at Harbour Arch is set to get underway imminently.
Social housing advocacy group Ndifuna Ukwazi has previously objected to a large mixed use development application brought by Amdec Property Development situated on what was once Transnet land on the Foreshore.
“The Harbour Arch development is unashamedly exclusive, and will entrench racial and class divisions that continue to suffocate Cape Town,” Ndifuna Ukwazi Attorney Jonty Cogger said.
The Amdec Group's R14 billion Harbour Arch mixed-use precinct was approved by the Municipal Planning Tribunal on Thursday. Picture: Supplied
Project by numbers:
R14 billion development
At least 13,000 construction jobs
5.8 hectare site to be developed
198,000m2 of usable space
R2.4 billion increase in household income for Cape Town
R90 million infrastructure upgrade for the City of Cape Town
Perpetual income (taxes and utilities) and wider economic spin-offs for the City of Cape Town
Residential use brings great positives to Foreshore
Two new hotels within the precinct