CCID: Cape Town saw 15 new CBD developments in 2020, city managing pandemic well
- Cape Town CBD's economy remained stable in 2020 despite Covid-19, according to an annual CCID report
- CCID chair Rob Kane says a number of property developments in the city bowl are an encouraging sign of investor confidence
There's been some stability in the Cape Town CBD economy during 2020 despite the negative impact of the Covid-19 pandemic.
That's according to the latest State of Cape Town Central City Report published by the Cape Town Central City Improvement District (CCID).
CCID chairman Rob Kane says there were 15 new developments in the city bowl last year, nine of which were residential.
Kane says the multi-billion rand projects suggest that there is strong confidence in the development potential of the CBD.
He adds that new residential developments will bring more tenants into the city who help stimulate economic activity in the city bowl.
The CCID has been publishing its annual Cape Town Central City Report for the past nine years.
Kane says it serves as "an investment map of the city centre".
The information in that report is really useful. Do you know there were 15 developments that came online last year? Nine of them were residential.Rob Kane, Chairman - Cape Town Central City Improvement District
Just the residential ones alone was about R2 billion worth of construction activity.Rob Kane, Chairman - Cape Town Central City Improvement District
Now those people are coming into the city, they are living in the city and at night, what are they doing? They're looking for restaurants and bars and things like that.Rob Kane, Chairman - Cape Town Central City Improvement District
Source : https://www.123rf.com/photo_149033952_cape-town-republic-of-south-africa-april-10-cityscape-of-cape-town-on-april-10-2018-in-cape-town-rep.html?term=cape%2Btown%2Bskyscrapers&vti=m1e53u3an5js7jylbe-1-108