Feb 12 2016

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Tags: modderfontein  johannesburg developments  shanghai zendai property 

Future Capital of Africa in Development
An artist's impression of the future hub of Africa.

Chinese billionaire property investors, Shanghai Zendai Property have recently obtained about 1,600 hectares of land from the South African AECI Company and have already begun the initial phase of the R87 billion ($6.4 billion) project, which is set to become the future capital hub of Africa!

The vast region of land under development is the area known to most locals as 'Modderfontein'. This area, to be renamed 'New City' will be developed into a futuristic financial hub over the next 10 - 15 years. It will contain residential homes, commercial office blocks, retail centers and a light industry zone. It will technically be a 'High Tech' or 'Smart City', within a city since it is no more than 30 minutes from the Johannesburg CBD and 40 minutes from Pretoria.

The area is centrally located between the central business district of Sandton and OR Tambo International Airport and hopes that it will eventually surpass Sandton as the new CBD.

It will be developed as a mixed node hub and is planned to include a university, schools, hospital and medical facilities, hotels, shopping malls, entertainment centers, luxury apartments and a separate financial district. Plans to link the Gautrain route with the Johannesburg and OR Tambo International Airport are also in place.

When complete, the development is expected to create more than 22,000 jobs and will become home to more than 40,000 families. It will also be one of the largest foreign investments of the country to date and eventually become a major financial and tourism hub of South Africa and Africa.

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Posted By Jacki - Canada

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