Riverfields: Growth at the heart of the Aerotropolis
In what turned out to be a busy month for Riverfields, this mega development project was prominently showcased at the Aerotropolis Industrial Cluster Development and Investment Conference hosted by the Ekurhuleni Metropolitan Municipality on 17 and 18 November 2015 at Emperors Palace, Kempton Park.
The same week also saw the official opening of the Riverfields underpass that now links Plumbago Logistics and Business Parks – already preferred address to top global brands in the freight, logistics and forwarding industries. Councillor Mondli Gungubele, Executive Mayor of Ekurhuleni officiated at the opening.
Councillor Mondli Gungubele, Executive Mayor of Ekurhuleni officiated at the opening. The function was also attended by the Gauteng MEC for Roads and Transport, Dr. Ismail Vadi.
Riverfields is a new generation urban development that fully aligns with the Aerotropolis aspirations of the City. It is a planned community where sustainable and new urbanism principles are ingrained in the design. Moreover, it is perfectly positioned less than 15 minutes drive north of OR Tambo International Airport (ORTIA) and offers immediate access to the Albertina Sisulu Freeway and the R23.
“Our message to investors attending the conference and exhibition was that Riverfields is the prime investment address in the Aerotropolis and Albertina Sisulu Corridor – a strategic investment area that has been prioritised by Gauteng Provincial Government and the City of Ekurhuleni as the leading future economic growth node in the greater Gauteng City Region. To unlock this potential we are working closely with authorities to ensure that the necessary infrastructure is in place and that we consistently exceed investor expectations”, says Lardus Erasmus, fellow director of Riverfields Development Pty Ltd.
Riverfields has unrivalled access to ORTIA, the Gauteng planned mega freight corridor as well as a growing labour and consumer market which is fuelling demand for retail, hospitality and other institutional facilities. The Riverfields area has also seen excellent returns in a resilient local property market.
“Beyond the obvious locational advantages, we offer investors scalability and full turnkey solutions. Consolidated or sub-dividable stands typically range from 5 000m² to 80 000m². Guaranteed power supply, superior design and security features are but some of the standard features we offer investors,” according to Erasmus.
Planned project pipelines include a regional shopping centre (for which rights have been secured), a mixed-use node, neighbourhood retail facilities, institutional users including schools, medical services and facilities, a four-star hotel and conference venue, and corporate offices. In addition, Riverfields will cater to the full spectrum of residential market requirements in line with an inclusionary housing ethos and a commitment to more compact and efficient land-use.
The development also takes community empowerment, job creation, sustainability and economic growth seriously. According to independent research conducted by Demacon Market Studies, the project will result in an overall R29 billion investment resulting in R68 billion economic benefit and R354 million additional rates and taxes for Ekurhuleni while also creating 160 000 jobs in the construction and operational phases. In addition, Riverfields is realising significant bulk infrastructure investment in roads, storm-water, power and water supply.
“We’re fully aware that Riverfields can provide the development stimulus that can support the Aerotropolis. We're brining not only investment to the Aerotropolis, but also significant employment opportunities”, Erasmus concludes.