Mutli-Billion Rand Investment Set To Soar Growth Vanderbijlpark
Category Property News
Development in the river city of Vanderbijlpark is set to grow exponentially with the construction of an R11 billion mega settlement which spans 250 hectares of land on the banks of the Vaal River and represents lucrative investment opportunities.
The Vaal River City development will reach the upper end of Vanderbijlpark and will provide a notable increase in the local economy and boost tourism in the area.
The development includes:
• 20 hectare of parkland green open space and bird sanctuary
• 400 000 square metres of offices
• 60 000 square metre regional shopping centre, and
• 400 000 square meters of commercial office space.
• A health care facility
• Overall 75% to 80% commercial and retail space
Furthermore, four-storey apartment buildings with 5000 units will be on the market valued at R400 000 to R800 000.
Vaal River City also spans into Sharpville and Emfuleni city through to Sasolburg and is due for completion over the next 15 years.
The project is situated in the Sediberg District and will see a surge of approximately R4 billion in investments- a large percentage of this will be injected into the economy of Vanderbijlpark.
The Vaal River City Development Company (PTY) Ltd, in partnership with local government is a headed by Reggie Kukuma who has been in the built environment for 18 years. He explained that prior to this project “ordinary people” were not able to access the riverfront due to private ownership.
In an unprecedented move, the new city will open up gated developments to the public.
“The new city will open this up to the public, offering a new waterfront and tourism destination, and will be a blueprint for the development of future cities,” says Kukuma.
Kukuma’s vision is to make Vaal River City affordable and available to surrounding communities and it is this that he continues to uphold since he nurtured the idea back in 2008.
Architect, Nishal Mistry says that the design intent is to create a “thriving metropolitan centre with wholesome, safe, family orientated living that is properly integrated into the existing neighbouring communities.”
Not only will Vaal City provide economic growth, it will be home to a new local government quarter, including government departments and services, court of law and municipal offices.
According to Kukuma, it is estimated that 60% of housing units will be purchased and occupied by individuals living in the Vaal area including Vanderbijlpark.
Residential development will consist of 20-25% of new properties with abundantly open spaces that will offer buyers a lifestyle near the river’s edge.
Kukuma says Vaal City will encapsulate the historical legacy of the country- such a legacy is widely appreciated in Vanderbijlpark.
The area was named after scientist Dr HJ van der Bijl who was instrumental in South Africa’s industrial development.
Today, Vanderbijlpark houses one of the most multicultural communities in the country and is home to approximately 95 000 residents who for the first time will have greater access to the river upon completion of Vaal City.
This will include: cycle tracks, pedestrian pathways, a civic centre, medical and educational facilities and a Metropolitan bus system.
In addition, the city is set to boost impressive employment figures, specifically 10 000 job opportunities during construction and after construction and further 19 000 people will be employed.
We at Lew Geffen Sotheby’s International Realty strive for finding your perfect investment and development opportunity in your dream location. Contact our expert team at our Vanderbijlpark offices today to inquire about our comprehensive listings.
Author: Lew Geffen Sotheby’s International Realty