R84bn Modderfontein ‘city’ plans unveiled

10 April 2014

Hong Kong-listed property development group Shanghai Zendai has outlined ambitious plans for the development of an R84-billion 22-km2 “city” on the Modderfontein property bought from AECI for R1-billion in November 2013.

Zendai Modderfontein, funded by Zendai Export-Import Bank of China and the China Development Bank, would house 100 000 residents, and employ 200 000 more when completed in 2024. It would be ecofriendly and low-carbon and would include finance, trade, logistics, commerce, exhibition, manufacturing, education, healthcare and housing. An on-site university was scheduled for completion in 2015.

Covering a floor area of 12-million square metres, it would be 20 km from the Johannesburg city centre, 7 km away from Sandton and 8 km from OR Tambo International Airport. A Gautrain station would link the project to other financial hubs and transport networks.

Shanghai Zendai founder and chairperson Zikhang Dai said “We did not realise there was such a vast tract of [undeveloped] land within [Ekurhuleni]. This land has been asleep for over 100 years, but today it is awakened and will become a future city.
“We have made this investment because we have confidence in this country and this land.”
By: Natalie Greve

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