OFFICE OF THE EXECUTIVE MAYOR
Block B | 2nd Floor | Tshwane House | 320 Madiba Street | Pretoria PO Box 440 | 0001
Tel: 012 358 4903
Cllr Randall Williams
Executive Mayor, City of Tshwane
10 March 2021
5 o’ Clock Development to assist in facilitating an inclusive economy in Tshwane
The 5 o’ Clock development located within region 4 of the City of Tshwane, comprises of 475 hectares of land, north of the Cornwall Hill. The development is expected to provide for approximately 1.1-million m2 urban mixed land uses, making it of catalytic and strategic importance.
The residential neighbourhoods will offer a range of housing technologies, including approximately 5 500 residential units.
The development’s capital investment value amounts to R20-billion, which includes the provision of infrastructure for the development. It has the capability to contribute approximately R916-million in terms of payable property rates per annum to the City, upon completion.
The socio-economic impact of the development includes:
- During the construction phase: R77-billion in business sales, 181 000 jobs created, and R27,2 billion in additional GGP.
- During the Operational phase: Business Sales: R77,3 billion in business sales, 131 400 jobs created, R37,2 billion in additional GGP.
This administration remains committed in its pursuit to facilitate an inclusive economy which creates jobs and economic growth within the Tshwane area.
Jordan Griffiths: JordanG@tshwane.gov.za