The Cape Town Central City Improvement District has released its annual “year in review” report, detailing the incredible numbers behind Cape Town’s CBD’s massive growth over the last year.
The Cape Town Central City is the traditional CBD or “downtown” of the Cape Town metropole, and lies within a 1.62km² area managed and promoted by the Cape Town Central City Improvement District (CCID).
This area is bordered to the northeast by Table Bay harbour (the Port of Cape Town) including the V&A Waterfront and by the largely residential suburbs around the rest of its perimeter known as the Atlantic Seaboard (to the northwest), the City Bowl (to the west and south), and District Six and Woodstock (to the southeast).
This year’s report focsued on the economic activity and character of each of these precincts in detail, and featured some of the more impressive statistics as a series of graphs.
Click on images to enlarge.
Cape Town CBD Map
The Cape Town CBD is where all the main road and rail transportation links begin in the Western Cape province, including the N1 highway to Gauteng and the N2 that travels along the southern coast of South Africa to KwaZulu-Natal and beyond. Cape Town International Airport lies 19km from the Central City on the N2.
GDP and other finance statistics
The City of Cape Town’s most recent official property valuations report (as at 2016-17) shows the overall nominal value of all property in the CBD to be R30,628,149,724.
In addition, to this, there is currently (conservatively) R12.1 billion of property currently under construction, planned or proposed for the Central City, to be completed by 2020 (and including those that were completed late in 2016).
All of the businesses in the CBD
With the Central City being a services driven centre, it is no surprise that hospitality, finance and business services drive its economy.
In addition, investment in real estate in the area has seen a dramatic increase over the past few years and, in support, the architecture and engineering sectors play a large role in the CBD in terms of their office presence.
There are currently 58 establishments in the CBD ranging from hotels (40) to backpackers (18), with an estimated 4,600 beds. The following occupancy and revenue per available room (RevPAR2 ) figures are courtesy of Cape Town Tourism via the monthly Accommodation Performance Review and Forecast Report. They compare the past two years and track occupancy trends in the CBD versus the rest of the metro.