Council approves 11 property transactions, a boost for socio-economic growth

25 April 2025

In a move highlighting the City’s commitment to social improvement and economic growth, Council this week approved 11 property transactions in communities across the metro.

These property transactions will go some way towards meeting housing needs, business development and education in the various areas.

This includes a lease agreement with the New Horizon Community Initiative, an NPO, to manage the Ravensmead Business Park, which is occupied by multiple small businesses that collectively employ 119 residents.

Another notable transaction is the sale of land in Belhar to the Western Cape Infrastructure Department for the development and establishment of a new school. Given the social care aspect of the development, the City will be selling the land to the provincial department at just 10% of its market value.

The third transfer to highlight is City land in Wesfleur, Atlantis for the development of much-needed residential properties.

‘These transactions are once again prime examples of the City’s smart real estate approach, where public land is used for positive socio-economic outcomes. By enabling these projects, the City continues to fulfil its commitment to community development that ultimately drives economic growth,’ said Alderman James Vos, the City’s Mayoral Committee Member for Economic Growth.

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Published by:
City of Cape Town, Media Office