Estimated Project Cost: ZAR 149 million (EB2)
ZAR 161 million (EB3)
Status: Financial Close Process
Expected Delivery Model: Regulated PPP
Sector: Commercial Property
Project Status: In the Market
Project Background and Scope
The purpose of the project is to increase the value benefits of the site through a long-term lease arrangement involving the design, construction and financing of the site (land parcel 4) called EB2 & EB3 in The Innovation Hub (TIH) requiring both infrastructure and top structure to accommodate tenants fitting the TIH tenant profile. The development will comprise a two-storey
building with some 5 693 m² gross building area.
Progress is as follows
- A preferred bidder was selected for both EB 2 and EB 3 and the TAII(b) was obtained from National Treasury.
- Currently in contractual negotiations with the preferred bidder and is expected to conclude in August 2017.