Cape Town observes successful auction at Good Hope Centre that paved ways to unlock various opportunities. It released 53 city-owned properties for private sector investment.
The event also included the iconic Good Hope Centre, via a successful competitive public auction on Thursday, February 26, 2026. This unlocked the economic and social opportunities in the city that ultimately benefits the residents. City thanked all the bidders who participated.
Currently, the due process is being followed so the results of the auction include the accepted offers and winning bidders that can be finalised and confirmed. A number of offers were received across all categories that included the Good Hope Centre. These bids are now subject to the post-auction review that the City of Cape Town must follow as part of the due legislative processes.
All the qualifying bids received in due course will be presented to the Immovable Property Adjudication Committee and where actually applicable, after getting final approval from the Council. This means that the results of the auction, will also include the accepted offers and winning bidders, which will be confirmed at a later stage once due legislative processes have been concluded.
About the Auction
All properties identified for auction were thoroughly assessed and confirmed as not required for municipal purposes. These released sites will create residential opportunities across many lower and middle-income communities and will also unlock a wide range of various commercial and industrial developments. The auction has attracted strong interest across residential, commercial, and industrial sites.
The City of Cape Town has received bids for all 28 residential zoned properties on offer, located in various areas, including Mitchells Plain, Maitland, Goodwood, Kraaifontein, Somerset West and Durbanville.
Commercial and industrial opportunities were similarly well received, with bids submitted for all such sites across areas, including Atlantis, Mitchell’s Plain, Delft and Parow. These properties are set to be the catalysts for economic activity, stimulating private sector investment and driving the creation of employment opportunities throughout the Cape Town.
Member of the Mayoral Committee for Economic Growth and Tourism – Alderman James Vos stated that making land available for private sector development sets the standard for how they will put the properties to productive and purposeful use.
Especially to ensure full transparency, the bidders compete via a public auction. This major land release initiative complements the broader pipeline of land release that successfully delivered over the past several years.
Vos thanked the bidders for their responses to these auction opportunities and now due legislative processes need to be followed to finalise the results.