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BITTER HEART NEVER REST
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Discussion Starter · #1 ·
After years of delapidation, Joburg is now a city at work.

"Urban-renewal tax incentives are critical to economic growth and turnaround, as the inner city's redevelopment has shown. It is a success story in the City of Jo'burg's regeneration plan," said councillor Parks Tau, member of the mayoral committee responsible for finance and economic development for the Johannesburg city council.

The extension of the tax incentive's sunset until 2014 gives inner-city investors time to secure maximum benefit from the incentive.

For example, the first buyer of a newly constructed building in the inner city qualifies for depreciation of 55% of the purchase price, depreciated at 20% in the first year and 5% in the subsequent 16 years.

The first buyer of a renovated or refurbished building in the inner city qualifies for depreciation of 30% of the purchase price, depreciated at 20% a year for a five-year period.

All inner-city buildings under this incentive must be used to generate income, ranging from rental accommodation to manufacturing and business.

"The incentive now includes sectional title and shared ownership, as well as first buyers of new or renovated/refurbished buildings," said Lebo Ramoreboli, programme manager for the inner city and CBD's economic development.

The combined effect of the new offerings and the inner city's property rush is attracting a new wave of investors who have contributed to the rebirth of the area over the past four years.

The presence of blue-chip tenants such as AngloGold Ashanti -- the current tenants of Tiber Group's new development, Turbine Square -- shows confidence in the area's future.

AngloGold Ashanti has its roots in the inner city and its move to Turbine Square in May last year is testament to its continued commitment, said Mark Cutifani, AngloGold Ashanti CEO.

"Turbine Square is an innovative and functional building that should help to enhance positive change in the Newtown and inner-city area," he said. "Our hope is that this development will help to drive and encourage similar developments within the inner city."

The UDZ spans 1 800ha and includes the traditional CBD, Joubert Park, Marshalltown, Braamfontein, Newtown, Fordsburg, Bellevue, Yeoville, Berea, Hillbrow, Troyeville, Bertrams and Doornfontein. -- I-Net Bridge
Source: www.mg.co.za



















 

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Nice, can't wait for football world cup! :eek:kay:
 

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It's good to see its getting back to its early 80's level, and surely it will soon be even better with all the upgradings on the move, and the new construcions, such as the BRT system, gautrain and all the street art. In the near future they should is do something with the Ponte building, open up the hillbrow tower to the public. And as South Africa has a shortage of hotel rooms for the world cup, they should open the Carlton Hotel and the Sun Hotel, for after all these upgardes, surely they'd have future after the world cup.
 

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BITTER HEART NEVER REST
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11,390 Posts
Discussion Starter · #11 ·
It's good to see its getting back to its early 80's level, and surely it will soon be even better with all the upgradings on the move, and the new construcions, such as the BRT system, gautrain and all the street art. In the near future they should is do something with the Ponte building, open up the hillbrow tower to the public. And as South Africa has a shortage of hotel rooms for the world cup, they should open the Carlton Hotel and the Sun Hotel, for after all these upgardes, surely they'd have future after the world cup.
I love Ponte and wish the same for it. It's a pity that greed has being at the centre of Transnet and that means Carlton Hotel will never be back to it's former glory soon.

Nice pics, thank you for sharing! :eek:kay:
Much appriciated Tony, will try my best to post more.

Nice photos! Keep up the good work!
Thanks Jonny ;)

Good photos, very nice. Regards.
Watch out for more photos to come soon Jan. As long as my ride is still caring me, I will bombard you with photos of the greater Johannesburg:horse:
 

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Sport Crazy
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Puls thanks for posting boss. it looks Super. Surely the difference between 5yrs ago and now is huge. Beria is joining the Party. Need to see Hilbrow joining in as well.
 

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BITTER HEART NEVER REST
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Discussion Starter · #17 ·
^^ Berea and Yeoville are joining the party and Hillbrow just need the establishment of the CID.
 

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Why does Joburg falls into disrepair in the first place? In case of Detroit, it was because of the collapse of the auto industry. But for Joburg, why?
 

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BITTER HEART NEVER REST
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Discussion Starter · #19 ·
^^ the political change was the cause IMO and priorities also changed coupled by lack of experience by the new administration. The good things is that they acknowledged their mistakes and they have now focused on redevelopment of not only Joburg but the rest of the cities in South Africa. Public-private partnership is the drive force towards the new Joburg. I must admit that much still need to be done. Again the economy of South Africa was not doing good anymore under apartheid regime and so the new administration had to take over with lots of mistakes to work on.
 
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