The multi-billion rand mixed-use Rainbow Junction development north of Pretoria’s central business district is “a shovel-ready project” and will contribute 84 000 jobs to the Gauteng economy as it is built over the next 10 years.
Rainbow Junction CEO Rosella Dingle confirmed this on Tuesday during a Gauteng Growth and Development Agency (GGDA) virtual discussion on The Role of Infrastructure, Technology, and Logistics Towards the Next Normal.
She said the development will contribute 1.85% of Gauteng’s GDP during construction and operations over the next 10 years. “Those are significant numbers and that is because it’s a mixed-use development, stretching from retail to residential to business uses.”
Original plans for the new nodal development include about 670 000m² of commercial development.
All ‘enablements’ in place
Dingle said “shovel-ready” means that “all the enablements are in place, all the permissions have been granted and the project is moving in several tranches … towards proclamation of the townships”.
She said they are waiting for permission to continue with infrastructural development and the provision and installation of services for the townships, which will allow building of the “top structures” to start.
Dingle said there is a K14 provincial road link that crosses the Apies River and links the old Zambezi Drive with Sefako Makgatho Drive to Rachel de Beer Street, with those two projects sitting in the hands of decision-makers at the City of Tshwane and the Gauteng Roads and Transport Department.
“Both of those decisions are pending but when unleashed, and we are expecting positive decisions soon, will stimulate post Covid-19 economic growth,” she said.
Gauteng MEC for Economic Development, Agriculture, Environment and Rural Development Morakane Mosupyoe said investing in infrastructure is an essential enabler for promoting diversified and exclusive nodes in South Africa, not only in the province, but the continent as well.