The Modderfontein New City project was supposed to be an incredible “global business hub and would become Johannesburg’s main commercial center, replacing Sandton”. However, the immense project was scrapped and it was unclear why. Forbes Africa investigated over several years what occured and found a few answers.
“Six years ago a major development was announced in South Africa. Billed as a game changer, it was meant to alter the urban footprint of Johannesburg, Africa’s richest city, forever. […]
Our research, which took place over the course of several years, sought to understand the factors which led to the project’s demise. We also wanted to find out how Modderfontein’s failure relates to the broader African urban context.
We found that the project was hindered by conflicting visions between the developer and the City of Johannesburg. Moreover, unexpectedly low demand for both housing and office space meant the original plan for the project was incompatible with the city’s real estate market.”