Site B, Cape Town Foreshore - Reverse the Sale, Recoup the Money

By Jared Rossouw and Nick Budlender

Progressive cities across the world do retain ownership and trade bulk rights in order to capture and redistribute the value of land for the benefit of all residents - but it would seem this is not supported by the current policy and legislative framework.

This week, Mayor Patricia de Lille requested City of Cape Town manager Lungelo Mbandazayo to initiate a forensic investigation into Site B, prime public land on the Foreshore, auctioned to Growthpoint Properties in 2016.

In fact, Ndifuna Ukwazi wrote to the city manager two weeks ago requesting the investigation after we published key documents online exposing how residents of the city may have lost up to R140-million, money that the City itself said was committed to provide basic services and housing for poor and working class people across the city.

READ MORE: https://www.dailymaverick.co.za/article/2018-10-04-site-b-cape-town-fore...