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The City of Cape Town has accepted a R1bn offer to develop prime coastal land between Clifton and Camps Bay.Brett Herron‚ the mayoral committee member for urban development‚ said on Wednesday the sale of 5ha of the city’s 16ha would lead to a rejuvenation of the surrounding area."It will improve public access to the beach‚ ocean and recreational facilities as well as protect the natural vegetation‚ enhance local and international tourism potential and unlock investment to drive job creation‚" he said.The successful bid — from a shelf company linked to Ethan Dube’s Vunani Capital — was chosen from eight tenders‚ and is subject to a 21-day appeal period.Herron said Dube‚ fellow Vunani director Mark Anderson and property developer Tobie Mynhardt would build 52 detached homes‚ a boutique hotel or serviced apartment block‚ offices‚ studios‚ flats and a 725-bay underground car park.Other parts of the 16ha Clifton Scenic Reserve would be "developed and managed by the private sector as sust...

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