DocumentOngoingNews

Joburg Property Scheme Revamp Inner City

GCIS / SAnewsRef: https://www.sanews.gov.za/south-africa/joburg-property-scheme-revamp-inner-city

Official source

Source domain: sanews.gov.za

Collected on 28 July 2026

Always confirm details on the official source before acting.

What this means

This is a SAnews (Government Communication and Information System) news article dated 6 April 2011 about the City of Johannesburg launching the Inner City Property Scheme to revamp the inner city. The article says the scheme addresses urban decay by transferring dilapidated, abandoned, illegally occupied or hijacked properties to a new company (Newco) via a development lease with an option to buy, with the city retaining ownership until refurbishment is satisfactory. It also describes a BBBEE structure requiring selected participants to contribute at least R5 million in equity, the creation of a panel of BBBEE service providers for refurbishment, and the formation of a Transitional Housing Trust to provide transitional housing beds during refurbishment.

What this document offers

Read out of this document by Govermate's AI, in its own words. Each one quotes the line it came from — confirm on the official source before acting.

contractor service provider opportunityOngoing

Inclusion on the panel of BBBEE service providers for refurbishment

Service providers such as builders, carpenters, electricians, security companies, landscapers, and maintenance companies can join a panel established under the Inner City Property Scheme to supply services for the refurbishment of inner city properties. Participants in the scheme are required to use businesses from this panel wherever possible.

Who it is for: BBBEE-compliant service providers in construction and maintenance sectors
How to act on it: Be included in the panel of BBBEE service providers designated for the refurbishment work

Show the line this came from

Another equally important feature of the Inner City Property Scheme is the creation of a panel of BBBEE service providers that will be responsible for the refurbishment work.

Facts

Places

City of Johannesburg, Gauteng

Reference

https://www.sanews.gov.za/south-africa/joburg-property-scheme-revamp-inner-city

Amounts

R 5 000 000

Key Takeaways

Launched by: City of Johannesburg
Date: Wednesday, 6 April 2011
Purpose: revamp Johannesburg inner city; combat urban decay and rejuvenate the CBD
Scheme name: Inner City Property Scheme
BBBEE: described as one of the biggest broad-based black economic empowerment transactions in property
Newco: expropriated properties transferred to an Inner City Property Portfolio and passed on to a new company (Newco)
Ownership: City retains ownership until satisfied with regeneration and rejuvenation
Transfer mechanism: development lease with an option to buy (option exercised only after refurbishment)
Participants selection: via a request for proposal process
Equity requirement: minimum equity contribution of R5 million
Service providers: panel of BBBEE service providers (builders, carpenters, electricians, security companies, landscapers, maintenance companies)
Transitional housing: Transitional Housing Trust formed to manage transitional housing beds during refurbishment
Mayor quoted: Amos Masondo
City of Johannesburg
Johannesburg Mayor Amos Masondo
Department of Economic Development
Newco (new company)
Transitional Housing Trust
BBBEE (broad-based black economic empowerment)
Better Buildings Programme