The landmark property transaction is for part of a City-owned property in Paardevlei, Somerset West that will pave the way for a massive R900-million film studio development by Cape Point Film Studios (CPFS).
The deal was sealed after a site visit by Alderman James Vos, the City’s Mayco Member for Economic Growth.
This ambitious project is set to transform the site into a state-of-the-art film facility, boosting the city’s status as an international filmmaking destination.
Job creation
CPFS plans to upgrade existing buildings to create a cutting-edge studio complex that meets international standards.
Plans for future expansions with the development include a dedicated sea and underwater sound stage precinct, promising unique opportunities for filmmakers.
“We thank the City of Cape Town for taking this journey with us because, as practitioners in the film industry, we know first-hand how fast the content and filmmaking industry is developing,” said CPFS director Henry F Herring.
“The need for more strategic interventions, such as world-class sound stages to service this growth, not only helps filmmakers tell their stories, but also contributes substantially to the sustainable expansion of the film sector with its 1:4 multiplier effect to its value chain, all the while creating more jobs.”
A destination for local and international productions
Vos, meanwhile, highlighted the project’s potential to stimulate Cape Town’s creative economy.
According to the latest figures from the South African Cultural Observatory mapping study, the cultural and creative industries contributed R161 billion to the country’s GDP.
“This lease carries the potential to create hundreds of jobs, generate almost R1 billion rand in the local economy, and boost tourism to Cape Town,” added Vos.
“The creative economy is one of the top-performing sectors in the city.”
How Cape Town plans to make its hiking trails SAFER this summer
In related news, the City of Cape Town (CoCT) is rolling out a series of enhanced security measures to better protect residents and visitors during the high season.
Cape Town boasts several stunning, scenic mountain hikes on the outskirts of the city. In recent years, the increase in foot traffic on these trails has attracted opportunistic crime.
Last summer SANParks had their hands full with a spate of robberies and muggings across various hotspots inside the Table Mountain National Park.
As part of its holiday readiness programme, the CoCT is beefing up security at well-frequented tourist sites, including hiking trails, historic neighborhoods, and the CBD.
Read more on that story here.
What makes Cape Town such a popular filming location?
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