Edition 28 of 2004, Friday 23 July 2004
Sandton, Johannesburg, South Africa and who would have thought that Sandton can be so in the news.
In Focus on, we take a closer look at Sandton.
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|>> Real Estate in South Africa|
Foreign land ownership talks to continue
Government signaled on Wednesday that the public debate about foreign ownership of land in the country would continue.
Speaking after the regular meeting of the cabinet in Pretoria, government
spokesperson Joel Netshitenzhe told a media briefing that the meeting
was informed of "on-going work towards the launch of a public discussion
on the matter of foreign land ownership in South Africa".
|>> Old Mutual's Midrand project gets kick from 2010 World Cup|
SA's successful 2010 Soccer World Cup bid is expected to have a positive effect on Old Mutual Properties' plans for 200ha of land in Midrand as the Gautrain rapid rail project gains momentum.
The property giant has also said the core parts of its planned retail
and mixed-use development, Zonki'Zizwe, in Midrand, could be completed
sooner than expected...
|>> Townships are "dysfunctional"|
One-fifth of all South African households live in what were formerly known as black townships and the housing stock here is now worth an estimated R60 billion or more.
However the secondary residential property market in these townships is so "dysfunctional" that less than 15% of owners have thus far capitalised on their assets and very few have upgraded in the way that their white colleagues and counterparts do in the middle class suburbs of the big centres throughout South Africa...
|>> Focus on Sandton, Johannesburg, South Africa|
Heart of Sandton reborn as Sandton Central
THE need to give Sandton a specific identity has led to the creation of Sandton Central, a hub of businesses in the area bounded by Grayston and Sandton drives, and Rivonia Road.
Sandton Central comes out of the need to make the area more attractive to businesses, residents, visitors and tourists.
It is co-ordinated by the Sandton Central Marketing Committee, which comprises representatives of the Sandton Business Improvement District and the Sandton City and Convention Centre Improvement District. These two bodies were formed in 2002 and 2001 respectively; both will now dissolve to form Sandton Central...
|>> Property of the week|
|>> Sandton space race...|
The Sandton skyline is to be invaded by high-rise blocks of flats, some soaring to 34 storeys.
The trend towards an "American/European" city lifestyle has seen a surge in demand for high-rise residential buildings in Africa's richest square mile.
Eleven buildings are to go up, mainly in and around the Sandton business district...
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