Invest in the central city

Strand on Adderley

Strand on Adderley

Latest research for the Regional Development Strategy (RDS) shows that the Central City is responsible for more than 22.3% of the regional economy and 25% of the total City’s turnover. The research confirms that “the regional economy is dominated by tertiary services which drive growth and employment”. The Central City is crucial to regional competitiveness, serving as a hub for the service sector, the visitor economy, the creative industries and government service sectors.
Over a 10-year period from 1996 to 2006, Cape Town’s economy has shown consistent growth in the finance and business services sector and in the wholesale and retail trade sector. The overall Cape Town economy has been growing steadily during this period – to an average rate of 4.1% in 2006. This is higher than the national average (3.2%) and regional average (3.8%) at the time.
“the regional economy is dominated by tertiary services which drive growth and employment”

Cape Town

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In addition, there are significant incentives encouraging investment. The Income Tax Act allows property-owners/developers to offset building costs against income in defined Urban Development Zones (UDZs). The UDZ tax incentive aims to stimulate capital investment in buildings in declining areas.
Two Urban Development Zones have been approved for Cape Town. The first encompasses parts of the Cape Town CBD with integrated corridors, and CBD, the East City, Salt River, Woodstock, Observatory and Maitland up to the railway bridge.
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