20 600 Jobs to be created with R3.2 billion development of Bellville Velodrome

The City of Cape Town has awarded a R3.2 billion tender to establish retail, business, residential, hotel and conference facilities in the Bellville Velodrome precinct. This 11.5 ha property is located on a portion of Erf 21750, Bellville, in Tyger Valley abutting Carl Cronje Drive. It includes the Velodrome, athletic stadium and adjacent public parking area.
The decision to award the tender was taken after a two-stage, public tender process which started in September 2007. The tender was won by Devmet Property Developments, a consortium between Devmark Property Group (Pty) Limited and Mettle Property Group (Pty) Limited, through a competitive bidding process that lasted more than two years. Mettle Property Group is 49% owned by Metropolitan Capital, an associated company of the Metropolitan Group, and is a level eight contributor in terms of Broad Based Black Economic Empowerment (BBBEE).

Mansoor Mohamed, the City’s Executive Director for Economic, Social Development and Tourism: “Despite current global economic challenges, Cape Town has yet again proved to be an attractive investment destination. The City of Cape Town has put together a strategy of infrastructure-led, economic development which is starting to bear fruit. The tender for the Velodrome was one of the biggest and most complex property transactions ever to be awarded on municipal land in Cape Town and it is the result of tremendous team work of several departments, led by the Property Management Department. This development will enhance Cape Town’s positioning as a globally competitive business and leisure destination. “

Mohamed also notes that:
“...An estimated 26 000 direct and indirect jobs will be created by this development. This is a best-practice example of how the City, in partnership with the private sector, can enhance and utilise City property assets to achieve key strategic objectives and benefit the people of Cape Town.”

Ruby Gelderbloem, the City’s Director: Property Management, said:
"Devmet Property Developments submitted a development proposal that will enhance the area between the existing Tyger Valley Shopping Centre and the Parc Du Cap office park in terms of its design, form and urban fit. The design recognises the site constraints and incorporates the opportunities into a concept that will provide a balanced blend of retail, business, residential, hotel and conference facilities. In addition to the existing sporting facilities, the Velodrome will be remodelled to complement the conference facilities with the staging of concerts, shows, trade affairs and exhibitions. A high performance sport centre will be incorporated into the sport and athletic facilities and will be used to provide specialised training to athletes.”

“Devmet Property Developments has put together a group of companies and management models that offer a suitable range of skills and experience in property development, property management, financial oversight, facilities management and events management. They incorporate and provide local and international experience, strategic partnerships and networks, and innovative technologies, designs and processes. The group includes Devmet, Big Concerts, the High Performance Sports Centre and several smaller, specialist firms”, Gelderbloem added.

The public as well as interested and affected parties will have an opportunity to comment on the development as part of the land use planning process which will follow the successful conclusion of the legal agreements between the City and Devmet Property Developments. The City is represented in this project by Andre Human and Pieter Matthysen from the Property Management Department. It is envisaged that the development will be completed by 2014.

Click here to submit your company details for the Velodrome Tender.
Click here to go to Devmark Commercial.

Edit of orginal article on www.cbn.co.za