R10bn Harbour Arch development launched
Set to be located on the Cape Town foreshore, the Amdec Group recently launched its R10bn Harbour Arch development.
The mixed-use development includes retail, commercial, residential, hotels, and motor dealership showrooms. The initial development phases will consist of two residential blocks comprising 580 apartments, four motor dealerships, and the first hotel tower, which will be home to the Marriott Hotel and Residence Inn by Marriot.
Wesgro’s CEO, Tim Harris, speaking at the launch said, “Today’s launch of the R10bn Harbour Arch by the Amdec Group is another vote of confidence in Cape Town, and highlights how our CBD is probably the most functional and investable on the continent. Such a large development will provide a boost to our local economy and will add to the Mother City’s growing and iconic skyline.
Boost to housing stock in central CT
"Modelled on the award-winning Melrose Arch mixed-use precinct in Johannesburg, this development will add much needed housing stock and job opportunities in central Cape Town.”
Mayor Patricia De Lille added that “the investment, through the construction of Harbour Arch, is a welcome injection to our city’s economy. Cape Town is a forward-looking city, attracting more investment.
"We have to balance economic development with high-density affordable housing which is located close to the city. Investment must coincide with our social responsibility to inclusive economic growth, job creation and an integrated community.”
