From Creamer Media in Johannesburg, this is the Real Economy Report.
Sashnee Moodley:
Divercity Urban Property Fund has completed the first phase of its Jewel City project in a two-year development programme, and the new inner-city mixed-use precinct officially launched to the public on Heritage Day. Jewel City is a residential, commercial and retail development.
Tasneem Bulbulia tells us more.
Tasneem Bulbulia:
The mixed-use development is an extension of the existing Maboneng precinct in the Johannesburg central business district, bordered by Commissioner and Main streets, Berea road and Joe Slovo drive – comprising of six blocks.
The spine of the precinct is Fox street, which is set to be pedestrianised as part of the ongoing development to link Maboneng to Jewel City through to Absa's offices.
This urban renewal project of an inner-city space began in October 2018.
The project entailed revamping the area into a revitalised precinct, consisting of 1 550 apartments, 20 017 m2 of Grade A office space, sufficient parking, a Curo school, a clinic, a gym, rooftop soccer fields, banking facilities, fast food outlets and restaurants and a plethora of retail convenience offerings.
The residential buildings include The Diamond and The Onyx. The Diamond Building Manager Edward Ramotolo tells us more about development process.
The Diamond Building Manager Ramotolo:
Tasneem Bulbulia:
He explains the features of the residential buildings; and expounds on some of the benefits tenants are receiving.
The Diamond Building Manager Ramotolo:
Sashnee Moodley:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.