The City of Tshwane aiming to catalyze private sector investment has decided to sell at least 81 properties by way of public auction as prescribed and in line with the Municipal Finance Management Act, 2003 (Act 56 of 2003) (MFMA) Section 14(2) (a) & (b) and Chapter 2 of the Municipal Asset Transfer Regulations (MAT regulations) . The properties identified are situated in at least four regions of the city which includes region 1, region 2, region3, region 4 and region 6, of different zoning of the properties differs from residential, business, industrial, agricultural and public open spaces. The individual properties were considered from various planning perspectives and requirements, such as flood lines and drainage control, presence of existing infrastructure, currently zoned public spaces considered important in terms of ecological services and recreation. Having satisfied all due diligence consideration and weighed the development benefits, the City will hold the first public auction on 24 March 2014 with an introductory event constituting as the City Of Tshwane’s Inaugural Investor Summit scheduled for the 17 February 2014, to workshop and prepare potential buyers and create march-making environment.
Posted on: Wed, 21 Jan 2015 10:05:10 +0000