Modderfontein development good to go

Phase one of the R84-billion investment project in Modderfontein was signed on Tuesday, April 10.

The signing of the Memorandum of Understanding (MOU) took place at the Modderfontein Conservation Park and government officials were invited to be witness to the event.

This follows the sale of the former-AECI land in Modderfontein, in November last year, to the Chinese developer, Shangai Zendai.

According to the current planning by founder and chairman of Shangai Zendai, Mr. Zikhang Dai, the initiative is expected to generate long-term growth for the Modderfotnein area.

Among the plans for the area, are the building of a central business district, an international conference and exhibition centre, an entertainment centre and a retirement community.

Shangai Zendei also plans to develop the silver industry, an international residential community, education and training centres, sport centres and logistics centres. There are also plans for light industry to be developed in the area.

According toMr Dai, the project has been titled Zendai Modderfontein and there are also plans to possibly change the name of Modderfontein to Zendaifontein.

He added that before the purchase, the land was ‘dead’, as it was used for the testing of explosives. Now, said Mr Dai, the land will be reawakened thanks to the planned development of the area.

Mr Dai said Sandton will be no match for the proposed developments and he envisages the development being five to six times greater than Sandton.

“We are excited about the opportunity to develop a new Gauteng CBD that is strategically located and linking integral parts of the province, providing a platform for further social and economic growth. Our long standing and reputable developments stand us in good stead to bring this inspired initiative to life,” said Mr Dai.

With a focus on green design and localisation, interested parties have been invited to jointly develop the Modderfontein New City Project.

Mr Zendai, the owner of the company, said that if the South African government can support them in their plans, they will build a university on Founders Hill. This university will be called People’s University of South Africa.

The Gauteng Premier, Ms Nomvula Mokonyane, said the development should be well received by South Africans, as it will be beneficial to them as well.

She said the bad myths about Chinese people should be done away with.

“The myth is that it is wrong to deal with the Chinese, yet no one has said anything about the Europeans who have taken our land, many of whom still own it,” she said.

The Gauteng MEC for Economic Development, Mr Mxolisi Xayiya, said South Africans ought to be grateful, as this project promises to give hope to the disadvantaged as well as fuel economic growth.