The CTICC East expansion was officially started when the first sod was turned by Western Cape Premier Helen Zille, Alan Winde (MEC for Economic Opportunities,) Ian Neilson (Cape Town’s Executive Deputy Mayor,) Julie-May Ellingson (Incoming CEO of CTICC,) Stuart Reynolds (CTICC Development Manager,) and Rashid Toefy (Outgoing CTICC CEO.) The ceremony was held on Monday, 21 July 2014.
The budgeted R832m expansion is jointly funded by the CTICC’s majority shareholders, the City of Cape Town and the Western Cape Government. The expansion will double the existing exhibition capacity by adding 10,000m2 of flexible space.
The main contractors will start work onsite in February 2015 and it is scheduled to be completed by the end of 2016. CTICC East will then open its doors early in 2017. The CTICC East expansion is part of a broader precinct development, which is set to include a 40,000m² commercial and hotel development alongside a new hospital.
CTICC has cumulatively added R22bn to the national Gross Domestic Product (GDP) in its 11 years of operation. It has also added over R7bn directly to the Western Cape’s Gross Geographic Product (GGP.) It is estimated that by 2020 the expansion alone will add a further R1.98bn to the national GDP and R500m to the GGP. In the last financial year the Western Cape secured 19 conference bids worth R347m to the economy.
The CTICC currently sustains 7,000 jobs pa, and expects the number to grow by a further 3,000 direct and indirect jobs after the expansion is complete.
The project managers plan to source 54% of the project construction value from BEE and SMME suppliers, with 50% of all products and materials coming from within a 400km radius of Cape Town.
Read by Kristy Jooste
Produced by Jenni McCann