R500 Billion to be spent on Lanseria's Mega City
Category News
Announced at the beginning of the year by President Cyril Ramaphosa in his 2021 State of the Union; Lanseria Airport's plans to construct South Africa's first Smart City has been underway since 2007.
First mentioned in his SONA speech two years prior, the President's supposedly idealistic dreams to construct a green-sustainable and community-ad advancing city is now becoming a reality. His claim was further confirmed by the Gauteng Department of Home Settlements and Provincial Government. This social investment was indeed underway and is expected to be fully functional in 10 - 25 years.
The Smart Mega City is prime real estate touted to house over 350,000 to 500,000 people within the decade using the airport as a hub for economic growth and further expanding on the city's path to a sustainable future. Other valuable sectors the plan has outlined to have a positive economic effect on includes science and technology, the manufacturing industry, the mining corridor, and the general restoration and revitalisation of the Johannesburg CBD.
These claims of economic prosperity are well expected when considering the investment is estimated to cost the tax-payer R500 billion. With the promise of a sizable return garnered from investment corridors outlined in the report, the Provincial Government is confident that we can expect to see a net growth of over R200 billion within the following years.
These "corridors" mentioned in the report are sectors demarcated as geographic areas of the greater Johannesburg area and can be simplified as such:
- The Central Development Corridor
- The Northern Development Corridor
- The Eastern Development Corridor
- The Southern Corridor
- The Western Corridor
Each of these corridors are anchored on the investment and bolstering of a number of specific essential services they provide. For example, the Central Development Corridor encompasses the City of Johannesburg as the mesial node of the financial and information sector.
The main drive of the Lanseria Smart City is to create an eco-friendly environment capable of expanding socio-economic redress and utilising sustainable and efficient solutions to harbour a growing population of South Africans. They plan to achieve this by featuring rainwater harvesting and solar energy to limit the Smart City's carbon footprint.
Innovation and a further understanding of efficient and carbon-neutral energy production are expected to be the driving force behind this project. The Smart City is believed to move beyond the existing dynamics of sprawling asphalt jungles and propel South Africa forward into the 4th Industrial Revolution.
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Author: LV Digital
