Estate Living Magazine Invest SA - Issue 41 May 2019 | 页面 10

RESTORATION
ON
P R O P E R T Y
&
- Artist
rendering
Vannin Vannin
Court Court
- artist's
rendering
I N V E S T M E N T
Vannin Court - artist's rendering
JOBURG
CBD’S
MOST
NEGLECTED BUILDINGS
Johannesburg City Council is driving an initiative to restore 84 buildings
in the CBD to provide efficient, contemporary accommodation for city
dwellers, and tenders have been awarded to various developers who’ve now
started this visionary transformation of some of Jozi’s oldest residential
hubs.
Vannin Court - current condition
The earmarked buildings are in Jeppestown, Newtown, Hillbrow, Doornfontein, Yeoville, the
city centre and Fordsburg. The intention is for the private sector to invest money in converting
the buildings, many of which are owned by the city council. The council will then, in turn,
lease the buildings to the developers who may charge rent to recoup the money spent on the
investment.