C-Max Investments was named on Thursday the preferred bidder for a combined retail, commercial and residential development in Newtown, Johannesburg.
The announcement was made jointly by the Johannesburg Development Agency (JDA), Blue IQ and the Johannesburg Property Company.
”After much deliberation we are pleased to announce C-Max Investments as the preferred bidder for a large scale development in Newtown,” the JDA’s chief executive JDA Graeme Reid said in a statement.
”Although a number of proposals were received, only one met all the criteria laid down by the JDA and its partners for the development of the first mixed use (retail, commercial and residential) complex in Newtown.
”This announcement confirms our belief that the inner city and Newtown specifically is well on its way to effective rejuvenation and we are pleased that C-Max has become part of the vision to create a world class African City by 2030,” Reid said.
The construction would be part of a new development zone called Central Place, Newtown. Work in this area was already going ahead for a green-fields office and retail development at Number 1 Central Place due to be completed by May 2005.
The first big tenant for Number 1, the Gauteng Tourism Authority, had already signed and would be moving in on May 1, 2005.
”Our premises will span three stories including a 60 seater auditorium on the ground floor and has been designed to be both secure but accessible to the public.
”Our move back to the CBD shows our commitment and belief in the city of Johannesburg and supports the tourism potential of Newtown and Johannesburg,” said Terry Tselane, chief executive of the Gauteng Tourism Authority. – Sapa