4 key projects driving development in the Johannesburg Metropolitan Municipality
Category Market News
Johannesburg, Randburg and Roodepoort are powerhouse cities that form part of the Johannesburg Metropolitan Municipality. All three contribute significantly to the national GDP, employment growth, and residential and commercial expansion. With a population size of just over 5,5 million people, the Metropolitan area is the most densely populated in South Africa. It also leads the way in the number of upgrades and rejuvenation projects underway around city centres and disadvantaged areas. There are four key projects that will drive development in the upcoming years and improve the quality of life for all residents who are part of this vibrant metropole.
Let's take a closer look at these:
1. Mega Projects
Mega Projects is an R100 billion investment by the Gauteng Department of Human Settlements' with the goal to create planned and developed "Mega Cities" that provide housing, as well as accommodate the economic and social needs of the community. It emphasises the need to steer away from sporadic and uncoordinated developments, and instead, invest in developments that create a better and more inclusive community. Mega Projects aims to build more than 800 000 houses within 30 new residential developments throughout Gauteng and across five development corridors.
The City of Johannesburg Municipality falls under the Central Development Corridor, here development is built around the economy of finance, services, information and communication technology, and pharmaceuticals. The department aims to build 140 000 housing units in the central corridor by establishing partnerships with key stakeholders including those in the private sector. There are three mixed-use developments that will be undertaken by the Johannesburg Municipality which will hold the new housing units.
Alexandra - Consisting of approximately 30 800 residential units, as well as commercial, health, retail, educational and recreational facilities.
Goudrand Mega City - Consisting of residential and commercial developments with a potential of between 20 000 and 25 000 housing units.
Lanseria Airport City - Designed to be a high-density mixed-use residential area where the economy and infrastructure is centred around the airport.
2. Integrated Development Plan
The Integrated Development Plan (IDP) is a long-term strategy for the Johannesburg municipality - it identifies the challenges facing Johannesburg, Randburg and Roodepoort, and provides solutions to overcome these in order to remain a business, tourist, and investment destination.
It aims to:
- Promote employment growth and job creation;
- Create a sustainable, secure, livable and resilient municipality;
- Enhance the quality of life for residents by improving services and taking care of the environment;
- Developing poorer communities to reduce inequalities;
- Institute an honest, responsive and productive government.
The Integrated Urban Development Framework (IUDF) is the government's response to reviving rural areas, and growing and managing urban areas. This extends to the Johannesburg municipality where IUDF aims to create functionally integrated, balanced and vibrant urban settlements that are inclusive, safe, resilient and sustainable. An important aspect of the framework is that it recognises that each city is different, with each playing unique roles in the economy.
4. Joburg 2040
Joburg 2040 is government's long-term solution to the challenges that the City of Johannesburg faces, and the goals set out aim to create a municipality that promotes an improved quality of life for all residents in a resilient, livable, and sustainable urban environment. In order to make this work, the government says the project is underpinned by infrastructural development which is supportive of an economy that is low-carbon, socially inclusive, job-intensive, and locally and globally competitive. Speaking to the Randburg Sun, Mayor Herman Mashaba says an important component to Joburg 2040 is the Urban Development Zone (UDZ) tax, which reduces the tax owed by investors if they invest in inner-city property development. For Mashaba, this incentive has already motivated private investment in the form of rehabilitating sectional-title units and expanding the construction of mixed-use developments in the inner city.
With the amount of urban renewal and development projects underway in the Johannesburg Metropolitan Municipality, residents will greatly benefit from the changes taking place. To find out more about the homes in Randburg, Johannesburg and Roodepoort, speak to our helpful agents from Lew Geffen Sotheby's International Realty Randburg today.
Author: Lew Geffen Sotheby's International Realty Randburg