The City has awarded the estimated R1 billion tender for the development of the Clifton Precinct to consortium K2015298271 South Africa (Pty) Ltd.
The proposed development will improve public access to the beach, ocean and recreational facilities as well as protect the natural vegetation and enhance local and international tourism potential.
Transport and Urban Development Mayco member Brett Herron said the bidders were notified of the outcome on September 28.
“The City of Cape Town advertised the tender for the development of the City-owned land between the Clifton bungalows and Camps Bay in March last year. Eight tenders were received by the closing date of June 13 last year,” he said.
He added that a “thorough and rigorous” supply chain management process had been followed.
“This included a due diligence process conducted by external auditors.
A statutory appeal period of 21 days is now under way, allowing those bidders who have been unsuccessful the right to appeal against the outcome of the process,” said Herron.
He added that the land was about 16 hectares, of which 5ha had now been made available to the successful bidder for the development of two pockets of single residential developments.
“Sections of the four erven located in this area will be sold and others leased for a period of up to 50 years. This means that sections of the land parcels will be developed and managed by the private sector as sustainable assets for future generations,” he said.
The City will allocate at least 10% of the financial offer to affordable and inclusionary housing projects on well-located land in the inner city.