Premier Ebrahim Rasool has welcomed the national launch of the Icon development at the International Convention Centre tonight at 19h30 as another sign of increasing investor confidence in the Western Cape and in Cape Town.
The Premier said: "We are proud that a city like Cape Town attracts such universal confidence in its CBD. Recently announced investments coming into Cape Town include:
Euro-Cape [Mandela - Rhodes Square]: R 500 million
COESSA [Icon]: R 350 million
Mitchell's Plain Promenade: R 300 million
Khayelitsha CBD: R 300 million
Film studio: R 460 million
Budget Insurance Call Centre [Century City]: R 100 million
TOTAL: R 2.13 billion
"This excludes purchases and transactions, the capital value of new leases signed and upgrades to existing buildings.
"This R 2.13 billion is a major installment on the R 5 billion that we undertook to bring to our Province at the Growth and Development Summit last year. As a Government we are committed to doing our part as we build the Home for All.
"It is good to see cranes lining the city horizon as a sure sign of progress and confidence. The construction industry is back in business to build on the skills of the Province and to provide much needed work.
"It is most encouraging for the long term that this new wave of development in the city is characterised by four important features: mixed use principles, racial and social integration, black economic empowerment and architectural innovation.
"We welcome the commitment to mixed-use development by COESSA and Euro-Cape amongst others. The deliberate inclusion of commercial, retail and residential facilities in development initiatives reflects the best of current international planning models.
"Cape Town has a painful history of separation still clearly reflected in racially divided residential areas. The racial and class integration of our physical spaces is essential to secure and expand the Home for All. The fact that the historic city centre is playing a leading role in bringing our people together instead of serving merely as a centre of established wealth is very encouraging.
"The development of the Icon by 100% black owned COESSA will be a signpost to black economic empowerment. This state of the art 20 storey development on land reclaimed from the sea in 1937 is one of the first of its size being undertaken by a black company.
"We are particularly excited that the name 'Icon' refers to a 'Wall of Rememberance' inside the building. This presentation will celebrate the leaders who have made achievements such as this possible in a free South Africa. In the context of our vision of becoming a 'Home for All, this is a highly appropriate gesture.
"The use of contemporary architecture with African references will help transform the face of the city as the architectural treasures of the past stand juxtaposed with the new as symbols or reconciliation, understanding and progress.
"There are two concerns arising from these important developments:
"Firstly, that the movement of the CBD toward the Waterfront in the west through developments such as the Convention Centre and Icon must be balanced. We are committed to development on the eastern side of the CBD as District Six is restored and revitalised and the development of the southeastern metropole through new projects including the Film Studio, Mitchell's Plain Promenade and Khayelitsha CBD."Secondly, that prices should not prohibit access in an environment where wealth is still related to race. As a Provincial Government we welcome the debate on the peopling of District Six, gentrification of areas such as Bo Kaap and property prices as we find means to counter this."
For any further enquiries, please contact Redi Direko on 082 805 9119 [rdireko@pgwc.gov.za].
