The City of Cape Town has announced the approval of a lease agreement for part of a city-owned property in Paardevlei, Somerset West, which will see the construction of a R900 million film set.
The lights, camera, action is on lease and will further propel Cape Town’s vibrant and creative industry. It will also boost the economic industry.
Member of the Mayoral Committee for Economic Growth – Alderman James Vos sealed the deal with significant property transaction after he visited the site on Nov 27, 2024.
The development by Cape Point Film Studios (CPFS) will unlock the substantial opportunities for local and international production companies. It will drive economic growth, foster innovation and will create jobs by building skills, while also showcase breath-taking stages of Cape Town to the world.
Acknowledging this agreement, CPFS plans to convert the existing buildings on the site into a functional film studio facility that meets international standards. However, once the development will be completed, it will be available to operate successfully. CPFS’ plan is to develop a sea and underwater sound stage production precinct.
Director of Cape Point Film Studios – Henry F. Herring extended gratitude to City of Cape Town for proceeding the journey with them, because as practitioners in the film industry they know first-hand how fast the content and film-making industry is developing.
He added in his statement that there is a need for more strategic interventions such as world-class sound stages to service the growth that helps filmmakers in telling their stories and will also contribute substantially towards the sustainable expansion of the film sector with its 1:4 multiplier effect to its value chain, along with creating more jobs.
Director Herring added further that they strongly believe that the Cape Point Film Studios will respond meaningfully to the needs and will once again position the country and the whole continent as an attractive filmmaking destination.
Alderman James Vos expressed that he is pleased to report the approval for the lease of the land which will catalyse the continued growth of Cape Town’s creative economy. The lease carries the potential to create hundreds of jobs and will generate almost a billion rand in the local economy.
Moreover, the project will also boost the tourism in Cape Town and the creative economy is one of the top-performing sectors in the city.
According to the South African Cultural Observatory mapping study of the year 2022, the cultural and creative industries contributed R161 billion to the gross domestic product (GDP) of the country in 2020.
“With the Economic Growth Directorate finalising the lease, we can further invest in Cape Town as a must-visit destination,” said Vos.
He assured that the project will enhance the status of Cape Town as a leading creative hub and will also solidify its position as a destination of choice for hone-grown and global productions.