News24

CT council to hear land deal details

2012-10-30 12:38

Cape Town - The Cape Town city council will hear details of a much-publicised land deal with media group Naspers, it was reported on Tuesday.

The Cape Argus reported that the council would meet on Wednesday to hear a proposal on land for the planned expansion of Cape Town International Convention Centre (CTICC).

Part of the plan included the city buying land next to the CTICC from Naspers.

The ANC raised concerns about the deal in March.

It said the market value of the land was R50m, but that the city was paying more than R100m.

The ANC said at the time the deal highlighted the "questionable relationship" between the Democratic Alliance and Naspers shareholders.

According to the report, the city denied any wrongdoing.

Public Protector Thuli Madonsela was apparently investigating the sale.

  • News24 is part of 24.com, which is a Naspers subsidiary.

Comments
  • thando.moloi.9 - 2012-10-30 12:59

    no wonder.

  • Matthew - 2012-10-30 13:00

    Interesting. Not a fan of ANC, but if you're paying double (and in the millions) you should definately put the question out there.Even if ANC is just trying to make trouble =P

      wendy.webb.980 - 2012-10-30 13:17

      They were paying extra for the rights that go with the land.

      lydonmcg - 2012-10-30 13:19

      They aren't paying double. The ANC's suggestion thereof is ludicrous. The city recently sold another site close by for R83 million, and it is significantly smaller. Besides...the city is in no position to dictate to Naspers, who don't have to sell the site if they don't want to. But the CTICC has nowhere else to go so the city pretty much has to pay whatever Naspers likes. Welcome to free market economics, ANC.

  • dave.elmore.5 - 2012-10-30 13:38

    This is per the previous article on the subject.... Cape Town deputy executive mayor Ian Neilson called the ANC's reaction "the worst kind of political opportunism". He said the convention centre's expansion would help make Cape Town a leading global conference and events destination. "This in turn, will help drive economic growth and development and create much needed jobs for citizens of the city." He said the amount offered by the city had been determined after extensive analysis by the city's own valuers, as well as by an independent valuer, and was in line with market prices. "There is no doubt that the transaction can stand up to the highest level of scrutiny." The municipality would co-operate with any investigations the public protector might institute, as it had nothing to hide, he said. ANC debt "The ANC would be better served by settling the R1.8m they still owe the CTICC," he said.

      mc.segal.5 - 2012-10-31 05:42

      We need to shift the focus from other provinces to the Western Cape. More Investment will follow a well run government here. Need to show how its done properly.

  • juju.malema.792 - 2012-10-30 13:38

    Until The ANCalamity has rectified its own gross and negligent mishandling of this country it should just shut up.

  • hermann.hanekom - 2012-10-30 13:53

    That is the ANC's value placed on the ground as they will not benefit from kickbacks. Let wait and hear what the ground traders say is the market related value.

  • peter.jefferies.90 - 2012-10-30 14:28

    How can the ANC question this when 250 million is being spent on a home for their leader??? This is a busines deal and if you look at the property market in Cape Town the price really isn't that high. Plus it will be an income generating piece of land not a waste of money. The ANC are such losers!!!!

  • sean.crookson - 2012-10-30 14:47

    They could just expropriate it like they did in the 80's when they took a sizeable chunk of our property to widen a road. When my father queried it, they just said "tough" and just take what we are offering (pittance).

  • mark.richardson.3914207 - 2012-10-30 16:26

    I am sure Zuma wanted the land for himself , after all he stated on british news last night that all of south africa including the western cape is for africans ( makes sense why SAA are not flying anymore from london to ape town or from vienna or zurich or frankfurt to cape town) watch out western cape buy up as much as u can before the influx of the corrupt terrorists.

      mc.segal.5 - 2012-10-31 05:44

      SAA Sucks

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