City of Cape Town presses ahead with prime real estate auction as it eyes foreign investment boost

The auction of two prime Cape Town properties, a 99-year building lease on the Foreshore tower site and a 2.5-hectare piece of land at Century City, has been moved out to later this month to allow more international bidders to participate.

James Vos, mayoral committee member for economic growth in the City of Cape Town, told News24 the auction was originally due to go ahead on 27 March, but the strong interest by developers prompted a shift to 25 April. It is being conducted by High Street Auctions.

"We postponed because we wanted to get international exposure; Cape Town is a global city, and we want to play in that global space all the time," he said.