City endorses redevelopment of Good Hope precinct

CAPE Town's long-awaited plan to revive the Good Hope Centre precinct has taken a decisive step forward and leading economists say the move could unlock major value if private developers are allowed to drive the process with purpose.

- MURRAY SWART

THE Good Hope Centre precinct is set for a major reboot as the City moves to open the landmark site to private developers.

(Archive)

The City’s Mayoral Committee has endorsed a proposal by the Economic Growth Directorate to grant in-principle approval to release the 2.4-hectare precinct for redevelopment. If Council approves, the site will go to a transparent public auction in early 2026, led by Claremart.

Economist Dawie Roodt believes placing the property on the market is the right call.

“Usually it’s a good idea when the state sells its properties to the private sector which can usually do a better job than politicians. If the private sector is interested, there is a lot of potential to develop which will probably be to the benefit of the city,’ he said.