A Chinese firm, Shanghai Zendai Property, plan on building the next New York right next to Jo’burg. They plan to build an R84 billion city over the next 15 years just 8km away from OR Tambo International Airport. They hope it will become the future capital of Africa.
Last year there were reports of explosives and chemicals firm AECI selling its 1600 hectare site close to Johannesburg to the Chinese developers. Shanghai Zendai Property’s chairman announced on Wednesday that they plan to break ground next year.
They plan to invest R3 billion over the next three years on infrastructure, with the initial focus on building schools and houses. It has been reported that Shanghai Zendai Property paid AECI close to R1 billion for their Modderfontein site. It was reported that the Modderfontein wetlands will be conserved and will be a feature of the city similar to New York’s Central Park.
Take a look at some artist’s impressions of the planned city.