The Western Province Cricket Association has gone into a partnership with Sanlam in a new office-block development that will range in the region of R750 million.
Sport24 reported on Friday that Cape Cobras chief executive Nabeal Dien explained that Sanlam will cover 51 percent of the costs, and the WPCA the other 49 percent, which will they will have to raise.
The project is set to see four new office blocks to be built in the old tennis courts area – at the Kelvin Grove End of the ground – which will be leased out.
Varsity College have already been earmarked for one of the buildings, with the first phase set to be done by December 2020.
There is already a Newlands Cricket High School housed at the world-famous ground.
“This is a journey that started around 10 years ago, and the main purpose of this journey was the sustainability of cricket,” Dien told the media at Newlands on Friday.
“We only occupy revenue-generating opportunities on certain days of the year... so here is an opportunity to create a 365-day opportunity.”
Dien added that the last two projects will result in the WPCA offices and Presidents’ Pavilion being upgraded by 2024.
“I don’t think we would have gone into this, and neither would Sanlam, unless we saw a viable outcome,” Dien said.