Regenerating inner cities
South Africa's three major cities, Johannesburg, Cape Town and Durban, have all implemented major strategic initiatives aimed at regenerating the inner cities and attracting investment.
Large infrastructural projects and funding initiatives have been set in motion. South Africa has also created a number of regional Spatial Development Initiatives (SDI) and Industrial Development Zones (IDZ) that will impact on the revitalisation of its major cities.
Johannesburg, Gauteng
Johannesburg is situated in the Gauteng province in the north and is the economic powerhouse of the country.
The Blue IQ
project is a multi-billion rand initiative of the Gauteng provincial government to invest in economic infrastructure development in identified mega projects in the areas of tourism, technology, transport and high value-added manufacturing, to create a truly "smart" province.
It is also putting substantial resources into turning around the troubled central business district (CBD), a victim in the 1990s of capital flight to the northern suburbs of the city.
Considerable results have been achieved: crime rates are down thanks to intensive policing; occupancy rates are up thanks to a combination of quality properties and low rents; investment is increasing as confidence improves; and cleanliness has returned thanks to an intensive campaign from Pikitup, the city's waste collection utility. There are three major initiatives to improve Johannesburg's security:
- Central Improvement Districts (CIDs)
- Closed circuit television (CCTV)
- Metropolitan Police
Department
Johannesburg CBD is a true metropolis: it has 217 000 residents in 37 000 dwelling units, 800 000 commuters enter the city every day, and 300 000-400 000 migrant shoppers visit the city each year.
The city also has 7-million m2 of floor space, 3-million m2 of office space with office buildings representing a R19-billion investment, a R1.2-billion capital investment in housing, and a R3,75 billion investment in a 2,5 km2 radius of core area. The CBD has distinctive competitive advantages:
- Pivotal location in the city's centre
- Major public transportation hub: all major arterials, all rail, and all bus services run into the city centre
- Low rentals and property prices for high-quality offices
- Access to a large workforce
- Under-served markets
- Significant infrastructure
Through Blue IQ, Gauteng will invigorate its economic trajectory by attracting some R100 billion in foreign direct investment in the next 10 years
– creating an environment in which local and foreign businesses can prosper and boost job creation opportunities for all South Africans.
Blue IQ is the dynamic catalyst for funding and promoting strategic investments in Gauteng. The focus is specifically on technology, high value-added manufacturing, transport and tourism.
Blue IQ works in partnership with business, government departments and other organisations. A total of R1,7 billion has already been allocated by the Gauteng provincial government towards this initiative, based on a well-researched trade and industrial strategy.
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