The development of the Africa Gateway Precinct is in line with the Tshwane City Strategy, which allows for the continued sound management and development of the established urban areas, including Centurion, by supporting market-driven initiatives to support the overall development of Tshwane.
Executive Mayor of the City of Tshwane Father Smangaliso Mkhatshwa says the Tshwane International Convention Centre will compliment the centres in Sandton, Durban and Cape Town, as South Africa has less than three percent of the international market of conventions.
"There is no way that you can bring local and international guests of the market we are targeting without providing the necessary comfort and convenience of hotel space, office park, penthouses and retail.
"This planned combination of development reflects a strong business case and determination of our consortium partners to attract local and international foreign investment to our city."
He committed the City of Tshwane's continued support to the project. Through the municipal manager the city's contribution around issues like infrastructure development, the creation of the necessary roads and transport utilities will be investigated.
PICEC's Chief Executive Officer Dr Anna Mokgokong says she firmly believes that this project should be public sector led and private sector driven: "We continuously challenge government at all levels to support broad based BEE entrance to the property sector and specifically the highly specialised sectors like the convention centre industry.
"PICEC is one of the very few Broad Based BEE consortiums to lead such a huge investment in the City of Tshwane. Decisions were taken on sound research to ensure all potential investors and lenders that the structuring of this project will benefit all stakeholders."
Chieftain Group Manager for Africa Operations James Gordon says of the jobs created, nearly 20 000 will be sustained while the project will generate R4,7 billion additional GGP - the value of all final goods and services produced and provided in an area in one year - in the economy.
The Irish based Chieftain Group is the international investment arm of the Pretoria International Convention and Entertainment Centre (PICEC) responsible for the project.
"Once the mixed use development of the project is fully operational, it is estimated to leverage a total of R17,3 billion in new business sales annually and generate a total of R9 billion in terms of additional GGP per year.
"The estimated economic impact during the construction phase of the 560 000m2 project will be in the areas of capital investment, business sales, GGP and employment. This includes the expansion of existing businesses associated with the construction of the development.
"This phase will also lead to the expansion of business sales for existing businesses in the area. Materials used in construction such as bricks, pipes and concrete will, for example, be purchased locally and particular services such as engineers, plumbers and electricians will be sourced locally," says Gordon.
