As other city centers decline, Cape Town’s CBD flourishes with doubled investments in 2023. What sets it apart from Johannesburg and Durban?
Without getting into the obvious finger-pointing about who is responsible – and without triggering smirks from smug Capetonians – it is interesting to see that, despite a general aversion to investing in South Africa’s central business districts, Cape Town is bucking the trend.
The Mother City’s CBD attracted more than R7 billion of investment last year, according to Cape Town Central City Improvement District (CCID).
Now, compare that with the Joburg CBD… okay, let’s not go there.
The findings in the CCID’s State of Cape Town Central City report of 2023 show that property investments doubled from 2022 – a sign that the city has rebounded from the economic pressures since the Covid pandemic.
ALSO READ: Cape Town CBD property investments double to R7 billion in 2023
While it goes without saying that Cape Town CBD has wonderful scenery on all sides, there has to be more to it than that… after all, both Johannesburg CBD and Durban’s have been in terminal decline for years.
It may well even be too late to rescue the CBDs of those two cities because they have, effectively, been nogo zones populated by criminals and building hijackers.
There also has to be political will and serious law and order muscle behind a campaign to revive our decaying inner cities.
Is that possible? What do you think?
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