Keystone Logistics and Business Hub
Discussing the Keystone Logistics Hub Sithole said this was one of the major highlights of the City and was an ongoing project. He noted that phase one, which has an investment value of R6 billion, was complete which has seen three factories finished. He requested that the Executive Committee pay an oversight visit to the project to see first-hand the impact the development has made. “This project was a catalyst to revive Hammersdale as industries were dying there. Due to this investment we have seen a revival in this area. This project showcases what we want to see happening in the City where there was the participation of local businesses in the project with sub-contracting work given to local business. Jobs were also created,” Sithole said.Waterfront Development
Speaking on the Point Waterfront Development, he said all approvals were in place. He said the promenade extension, which was a City investment, would be launched in March adding that the contractor was now on site.The investment for the project over the next 10 to 15 years is estimated to be around R30 billion to R35 billion with 11 000 construction jobs and 6 750 permanent jobs to be created. R200 million in rates per annum is expected to be generated.
He said further possibilities of the Point Waterfront Development project could include a residential component, the potential for a mall and hotel as well as land sale in progress to accommodate a high-end office park.