“We are excited about the opportunity to develop a new Gauteng CBD, strategically located and linking integral parts of the province, providing a platform for further social and economic growth,” said Shanghai Zendai Property Ltd founder and chairman, Dai Zhikang.
The development includes a central business district, international conference, exhibition centre, entertainment centre, sports centre, and education and training centre.
“Our vision for the Modderfontein new city is that it will become a unique landmark that will transform Modderfontein into an international cosmopolitan asset with a cultural and art element,” Dai said.
In November, the Hong Kong Company acquired 1600 hectares of land in Modderfontein to build a new city.
Meanwhile, MEC for economic development in Gauteng Eric Xayiya says the development will create over 50 000 jobs pre and post the construction of the new city center.
Residents from Ivory Park, Alex, Tembisa and others will be economically boosted.
The launch was attended by various business people, Premier of Gauteng and top officials.
