R300m precinct for Cape Flats
13 October 2004
A R300-million mixed-use precinct, including a shopping mall, residential units and a commercial offices, is being planned for the old Athlone golf course on the Cape Flats outside Cape Town.
According to Business Day, the development of the complex, to be called Vangate City, is expected to inject new economic life into an area that has long been neglected.
The 14-hectare development will be situated midway between Cape Town International Airport and the central business district along the N2 highway, and will serve Athlone and Langa township.
Economist Erwin Rode told Business Day that the development could rejuvenate the traditionally middle-class residential and commercial area of Athlone, which had seen its commercial business decline since 1994 because of competition.
Mustapha Murudker, chairman of the Vangate Development Company and consortium, told Business Day that the development would be anchored by a 28 000 square
metre shopping centre with a Moroccan design theme.
It would also include about 400 residential units for people in the middle-income stream, as well as a commercial component.
"Vangate City will lead the charge in the revitalisation of amenities, improved general security and empowerment of individuals in one of the most promising consumer markets in the Western Cape", Murudker said
He added that a traditional market or "souk" would be established in the mall to allow emerging retailers to showcase specialist products like spices, foods and fabrics.
Colin Young, fund manager of Old Mutual's South African-listed property funds, told Business Day that he believed the Cape Flats area needed its own community shopping centre.
"With the emerging black middle class it makes a lot of sense", Young said. "The size sounds about right and the mixed-use component underpins the retail offering."
According to Business Day, Murudker's company has already
started with the earthworks on the project, and plans to complete the shopping centre and 60 of the residential units by the end of September 2005.
SouthAfrica.info reporter
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