The Cape Health Technology Park (CHTP) project forms one of the Western Cape Government’s key infrastructure development projects, the Urban Regeneration Programme, which aims to use provincial property as a catalyst for creating economic growth and jobs.
It is envisaged that the Cape Health Technology Park, a collaborative venture between the Western Cape Government, the national Department of Science and Technology, academia and business, will be a world-class facility where pharmaceutical companies, research institutes, clinical trial facilities and health-related academic and government programmes are strategically housed in one location.
The economic impact of the proposed health tech park, during its construction phase, could be transformational with R1.5-billion contribution to the economy; 2 000 direct jobs; and 4 165 indirect and induced jobs added to the national economy, based on a construction investment of R757-million.
During its 10-year operational phase, the Cape Health Technology Park is set to contribute more than 13 000 jobs to the economy.
Why invest in the Cape Health Tech Park?
Cape Town is Africa’s leading digital city, seen as a hub for technology development and innovation and providing tens of thousands of jobs in the sector – significantly higher than other hubs such as Johannesburg, Lagos and Nairobi.
The cost of services, staff wages and office rentals are relatively low, compared with other major global hubs.
The Western Cape is home to a number of outstanding universities, including two globally recognised and research-driven medical schools and associated teaching hospitals.
To hear more about Cape Health Tech Park opportunities please contact the head of Strategic Projects, Jacyntha Twynam.
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