The Amdec Group, South Africa’s leading developers of New Urban lifestyles, has been buoyed by the outcome of the Municipal Planning Tribunal meeting held on Thursday 24 October 2019, where its R14 billion Harbour Arch mixed-use precinct was approved.
James Wilson, CEO of the Amdec Group, said immediately after the meeting, “This is a big day for Cape Town and a big day for the Amdec Group. We are overjoyed at the City of Cape Town’s decision to support Harbour Arch, and we have no doubt that this project holds tremendous promise for the Mother City. Harbour Arch will create jobs and opportunities, boost investor confidence both locally and abroad, bolster our city’s economy and benefit the Western Cape province as a whole.”
Within the context of the burgeoning Cape Town CBD, Harbour Arch occupies a strategic position at the convergence of major access roads, with easy entry points to and from the N1 and N2 highways.
Harbour Arch is set to be built on a 5.8-hectare site, with 198 000m2 of usable space and six individual towers. The site will also be home to two new hotels, to be operated by Marriott International, long-standing partners of the Amdec Group and the world’s largest hospitality group.
Harbour Arch will create a world-class New Urban precinct, delivering multiple lifestyle benefits and creating a highly sought-after place to live, work and relax for residents and visitors to Cape Town. It will further entrench its position as one of the world’s great cities, regularly voted one of the most desirable places to visit and live.
Harbour Arch represents a massive private sector investment into the city, estimated to create at least 13,000 construction jobs. Its credentials are further strengthened by the involvement of a reputable and committed developer.
The Amdec Group are experts at mixed-use developments. They have the vision, capital and expertise to develop on this scale. Their 30-year track record in the industry has built a reputation as the pre-eminent developers of mixed-use precincts in South Africa. They are the majority shareholder and operators of the award-winning Melrose Arch in Johannesburg, a world-class development that is a blueprint for mixed-use precincts.
The Amdec Group retains majority ownership and management control of its large-scale developments. They are known for appointing professional teams of exceptional individuals and world-class building contractors.
Source: SA Property Insider