Cape Town Central City Economy Holds Its Own During Covid Year
The economy of the Cape Town CBD remained stable in 2020 despite Covid-19, with the official nominal value of all property set at R43.8 billion by the City of Cape Town – and at least 31 new developments worth more than R6.9 billion in the pipeline.
This is the key finding of the special Covid edition of the annual State of Cape Town Central City Report 2020 – A year in review (SCCR), published today by the Cape Town Central City Improvement District (CCID).
Data in the ninth edition of the annual report (which reflects on the economic climate in the Cape Town Central City across the previous year) shows steady confidence in the development potential of the CBD, says CCID board chairperson Rob Kane.“The Cape Town CBD once again proved its resilience in a very tough year.
While some businesses have closed, many others have survived the first Covid year and it is very encouraging to note that investor and property development interest in the city center remains steady,” says Kane. The 72-page report is indispensable to investors, developers, business owners, and retailers wanting to invest in what is arguably South Africa’s most dynamic and successful city center.