The
City of Cape Town has awarded a R3 billion tender
to establish retail, business, residential, hotel
and conference facilities in the Bellville Velodrome
precinct. This 11.5 ha property is located on
a portion of Erf 21750, Bellville, in Tyger Valley
abutting Carl Cronje Drive. It includes the Velodrome,
athletic stadium and adjacent public parking area.
The decision to award the tender
was taken after a two-stage, public tender process
which started in September 2007. The tender
was won by Devmet Property Developments, a consortium
between Devmark Property Group (Pty) Limited
and Mettle Property Group (Pty) Limited, through
a competitive bidding process that lasted more
than two years. Mettle Property Group is 49%
owned by Metropolitan Capital, an associated
company of the Metropolitan Group, and is a
level eight contributor in terms of Broad Based
Black Economic Empowerment (BBBEE).
Mansoor Mohamed, the City’s
Executive Director for Economic, Social Development
and Tourism: “Despite current global economic
challenges, Cape Town has yet again proved to
be an attractive investment destination. The
City of Cape Town has put together a strategy
of infrastructure-led, economic development
which is starting to bear fruit. The tender
for the Velodrome was one of the biggest and
most complex property transactions ever to be
awarded on municipal land in Cape Town and it
is the result of tremendous team work of several
departments, led by the Property Management
Department. This development will enhance Cape
Town’s positioning as a globally competitive
business and leisure destination. “
Mohamed also notes that:
“...An estimated 26 000 direct and indirect
jobs will be created by this development. This
is a best-practice example of how the City,
in partnership with the private sector, can
enhance and utilise City property assets to
achieve key strategic objectives and benefit
the people of Cape Town.”
Ruby Gelderbloem, the City’s
Director: Property Management, said:
"Devmet Property Developments submitted
a development proposal that will enhance the
area between the existing Tyger Valley Shopping
Centre and the Parc Du Cap office park in terms
of its design, form and urban fit. The design
recognises the site constraints and incorporates
the opportunities into a concept that will provide
a balanced blend of retail, business, residential,
hotel and conference facilities. In addition
to the existing sporting facilities, the Velodrome
will be remodelled to complement the conference
facilities with the staging of concerts, shows,
trade affairs and exhibitions. A high performance
sport centre will be incorporated into the sport
and athletic facilities and will be used to
provide specialised training to athletes.”
“Devmet Property Developments
has put together a group of companies and management
models that offer a suitable range of skills
and experience in property development, property
management, financial oversight, facilities
management and events management. They incorporate
and provide local and international experience,
strategic partnerships and networks, and innovative
technologies, designs and processes. The group
includes Devmet, Big Concerts, the High Performance
Sports Centre and several smaller, specialist
firms”, Gelderbloem added.
The public as well as interested
and affected parties will have an opportunity
to comment on the development as part of the
land use planning process which will follow
the successful conclusion of the legal agreements
between the City and Devmet Property Developments.
The City is represented in this project by Andre
Human and Pieter Matthysen from the Property
Management Department. It is envisaged that
the development will be completed by 2014.
Click
here to submit your company details for
the Velodrome Tender.
Click
here to go to Devmark Commercial.
Edit of orginal article
on www.cbn.co.za
