New Tshwane HQ - city denies R10bn tag

2012-02-08 21:22

Pretoria - The new headquarters for the Tshwane metro will cost the city a maximum of R2bn over the next 25 years, a spokesperson said on Wednesday.

Pieter de Necker said reports of the price tag being in the region of R10bn were wrong.

The project entails demolishing the old Munitoria building in Pretoria's central business district and erecting a new office block.

The Munitoria building was partially destroyed in a fire in 1997.

De Necker said staff housed in the Munitoria building were being relocated to a new building.

This building would be leased for about R1.9m a month until the new building - to be known as Tshwane House - had been completed.

This monthly lease was not included in the R2bn price tag.

Tshwane House is being built in partnership with a consortium, which will own the building for the 25 years after its completion, after which ownership will revert to the municipality.

The Consortium includes Standard Bank, Nedbank, Group 5, and an assortment of smaller partners.

- SAPA
Read more on:    local government  |  fires
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