Shanghai Zendai unveils R84bn landmark development plans for Modderfontein

Shanghai Zendai founder and chairman, Zikhang Dai seen with Gauteng Premier Nomvula Mokonyane announcing plans to build a new city centre in Modderfontein east of Johannesburg.

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Hong Kong listed Shanghai Zendai on Wednesday revealed ambitious plans to create a new city centre, with the recently acquired 1600ha of land in Modderfontein north-eastern Johannesburg.

Plans to build a new city centre in Modderfontein were unveiled at an investors briefing event hosted by founder Zikhang Dai in the Modderfontein Reserve.

And the city he wants to see rise on the largest stretch of vacant land between OR Tambo International Airport and Sandton, Johannesburg, will keep the name Modderfontein because Dai likes the sound of it.

Chinese companies have been building roads and infrastructure across sub-Saharan Africa for years. Shanghai Zendai’s project will be among the largest real estate deals by a Chinese firm in South Africa.

The Premier of Gauteng, Ms Nomvula Mokonyane, the Gauteng MEC for Economic Development Mr Mxolisi Eric Xayiya, as well as the Vice Consul General of China to Johannesburg, Mr Peidong Yang, attended and spoke at the event. 

In addition to government representation, representatives from local and international business communities including potential investors, suppliers and partners attended the event.

Following the conclusion of the landmark R1 billion rand purchase from AECI in November last year, the South African competition commission approved the sale.

A socially conscious company, with previous developments such as the Himalayas Center, Mandarin Palace, and Thumb Plaza, the initiative is expected to generate long term growth for Modderfontein.

According to the current planning, Modderfontein will include nine functional zones, the central business district, international conference and exhibition centre, an entertainment centre, silver industry and retirement industry, international residential community, education and training centre, sports Centre, trade and logistic park and light industry park.

 “We are excited about the opportunity to develop a new Gauteng CBD, strategically located and linking integral parts of the province, providing a platform for further social and economic growth. Our long standing and reputable developments stand us in good stead to bring to life this inspired initiative,” said Zikhang Dai, founder and chairman, Shanghai Zendai.

With a focus on green design and localisation, interested parties have been invited to jointly develop the Modderfontein New City Project.

Initial short to mid-term key progress plans include an educational district, which will be structured to accommodate pre-school and primary school for the short term and high school and tertiary institutions for the medium term, a trade and logistic park, residential projects, as well as key infrastructure projects.

 “Our vision for the Modderfontein new city is that it will become a unique landmark that will transform Modderfontein into an international cosmopolitan asset with a cultural and art element.” said Zhikang Dai in conclusion.