Five hectares of prime land are to be developed between Clifton bungalows and Camps Bay in the Western Cape. The tender was awarded to K2015298271 South Africa (Pty) Ltd by the City of Cape Town’s Immovable Property Adjudication Committee (IPAC) on September 28.
The company was awarded the R1 billion (€62 million) tender to develop, among other things:
- a boutique hotel/serviced apartments of 3 500 sqm;
- commercial property with restaurants and retail outlets;
- residential apartments; and
- an underground parking facility for 725 cars.
Upgrades will also be made to the Maiden’s Cove picnic area, Victoria Road, The Glen Trail, Kloof Road, and the Clifton and Glen Beach steps. The Clifton Surf Lifesaving Club buildings and the Glen Country Club will be rehabilitated and redeveloped.
A boardwalk between Camps Bay and Maiden’s Cove is to be built, along with a boardwalk at Bantry Point Caves to increase public access.
The City of Cape Town will fund the cost of the investments in upgrading of the existing public infrastructure and the construction of the new infrastructure. Ten percent of the funding will be allocated to affordable housing projects on well-located land in the inner city.
