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Investors Eye Sandton
| News by Staff ReporterAs the suburb experiences a boom in development
Construction and development is booming in Sandton central with thirty proposals in the pipeline for the business district alone, according to the Sandton Central Management District (SCMD).These development proposals include new zoning and renovations within the Sandton business district and 200 000m2 of new office, residential and retail space over the next few years.
Paul van Rooyen of the SCMD said changes had been implemented on a number of levels in development, transport and business in Sandton, leading to a keen interest from investors.
In addition, “The Gautrain has helped open Sandton up to outside visitors, creating a link between Sandton and other suburbs,” he said.
Among the proposed developments for Sandton central is the planned demolition of the Village Walk shopping centre; construction of the new Alexander Forbes head office (opposite the Gautrain station) – planned for completion in early 2012; and the rebuilding of the Balalaika Hotel.
Sandton City would also open 69 stores on the corners of Rivonia and Sandton Drive in November 2011; bringing the total number of stores to 360, according to an article form MoneyWeb.
In addition to this, the firm said, work had already begun on luxury penthouse apartments on Katherine Street while a nearby temporary taxi rank has also been earmarked for development.
The construction companies involved in the developments include WBHO and Tiber Projects.
Source: www.bizpremises.co.za
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