The City of Johannesburg’s inner city revitalisation project, championed by Executive Mayor Herman Mashaba and also known as the “84 properties initiative”, continues to unlock new economic potential for small to medium-sized contractors and other underprivileged groups operating in the local construction marketplace.
The initiative is expected to drive the creation of approximately 5,000 jobs during its construction phases. It also aims to transform the city through project redevelopment by providing additional mixed-income housing, student accommodation, small business rental space, and more. “There is no better place in terms of real estate to invest other than the inner City of Johannesburg in South Africa,” offers Executive Mayor Herman Mashaba when asked about investment potential for the City of Johannesburg.
Currently, in South Africa, 63% of people live in cities, but this figure is forecast to grow to 71% by 2030. In fact, African countries are expected to experience the highest urbanisation rates worldwide between 2020 to 2050.
The City of Johannesburg will complement this initiative by hosting the 7th annual African Construction Expo and the co-located Totally Concrete Expo, the continent’s most influential gathering of construction and concrete professionals. Mayor Herman Mashaba of the City of Johannesburg will attend the event to welcome African and international construction professionals to Johannesburg and provide more information about how interested parties can access the ongoing inner city revitalisation initiative.
Every year, the event brings together over 9,500 participants to boost collaboration amongst public and private sector construction stakeholders. African Construction Expo will help the City of Johannesburg, South Africa and Africa keep pace with service delivery in demand with climbing urbanisation rates and overcome housing backlogs and other infrastructure gaps.