A major property transaction has been completed for a section of a City-owned area in Paardevlei, Somerset West, paving the way for a significant R900-million film studio initiative led by Cape Point Film Studios (CPFS).
The arrangement was finalized after a site inspection conducted by Alderman James Vos, the City’s Mayco Member responsible for Economic Growth.
This innovative project seeks to develop the site into a modern film facility, boosting the city’s status as a global filmmaking center.
Job Creation
CPFS plans to upgrade existing buildings to create a top-notch studio complex that meets international standards.
Future development plans also feature a dedicated sea and underwater sound stage area, providing unique opportunities for filmmakers.
“We are grateful to the City of Cape Town for collaborating with us on this venture, as industry leaders, we understand how swiftly the content and filmmaking industries are progressing,” CPFS director Henry F Herring remarked.
“The need for more strategic projects, such as world-class sound stages to facilitate this growth, not only aids filmmakers in narrating their tales but also greatly supports the sustainable development of the film industry, which has a multiplier effect of 1:4 on its value chain, ultimately generating additional employment opportunities.”
A Hub for Local and International Productions
In the meantime, Vos emphasized the project’s potential to revitalize Cape Town’s creative economy.
Recent data from the South African Cultural Observatory’s mapping study indicates that the cultural and creative sectors contributed R161 billion to the nation’s GDP.
“This lease is set to generate hundreds of jobs, inject nearly R1 billion into the local economy, and boost tourism in Cape Town,” Vos noted.
“The creative economy is one of the top-performing sectors in the city.”
How Cape Town Plans to Enhance Safety on Its Hiking Trails This Summer
In related news, the City of Cape Town (CoCT) is introducing improved security measures to better protect residents and visitors during the peak season.
Cape Town boasts stunning mountain hikes surrounding the city. However, the recent increase in foot traffic has resulted in a surge in opportunistic crime.
Last summer, SANParks faced a series of robberies and muggings at various hotspots within the Table Mountain National Park.
As part of its preparations for the holiday season, the CoCT is enhancing security at popular tourist attractions, such as hiking trails, historical districts, and the CBD.
For more details on this topic, click here.
Why Cape Town is a Favored Filming Destination
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