Cape Town approves R7.8bn in building plans in Q1, with R2bn in Table Bay, CBD
The City of Cape Town says it has approved building plans to the value of R7.8-billion in the first quarter of the current financial year.
Up to 4 733 building plans were submitted to the city’s Development Management Department from July 1 to September 30 for assessment.
“The construction industry is pivotal to Cape Town’s local economy,” says Deputy Mayor and Spatial Planning and Environment MMC Eddie Andrews.
“It is a massive source of direct and indirect job opportunities; it fuels the demand for goods and services associated with the industry; and it is an important indicator of investment appetite.
“Our latest statistics indicate that residents and investors have confidence in Cape Town’s future, and that property owners are eager to invest in improving or expanding existing assets, or developing new properties.”
Of the total number of building plans approved, eight are bigger than 10 000 m².
Of all those approved, the highest in value were the 343 building plans to the value of R2.01-billion in the Table Bay district, which includes the central business district; the 539 building plans to the value of R1.19-billion in the Blaauwberg district; and the 746 building plans to the value of R1.58-billion in the Southern district.
Up to 2 047 land use applications were also submitted to the city. Most of these – 380 – were for new developments in the Southern planning district.
Andrews says the Development Management Department has, over the past three years, invested time and energy in streamlining processes and making it easier to do business with the city.
“These efforts are aimed at ensuring building plans and development applications can be submitted with ease, and to keep the turnaround time for assessments to about 30 working days for building plans, and 90 days for land use applications, pending statutory and other requirements in terms of the city’s Municipal Planning By-law.”
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