The City of Cape Town is thrilled to announce 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, further propelling Cape Town’s vibrant creative economy.
This significant property transaction was sealed after a site visit by Alderman James Vos, Mayoral Committee Member for Economic Growth, on Wednesday, 27 November 2024.
This development by Cape Point Film Studios will unlock substantial opportunities for local and international production companies, driving economic growth, fostering innovation, creating jobs and building skills, while showcasing Cape Town’s breath-taking stages to the world.
Following this agreement, CPFS plans to convert existing buildings on the site into a functional film studio facility that meets international standards. Once this development is completed and is operating successfully, their plan is to develop a sea and underwater sound stage production precinct.
‘We thank the City of Cape Town for taking this journey with us because, as practitioners in the film industry, we know first-hand how fast the content and film-making industry is developing. The need for more strategic interventions, such as world-class sound stages to service this growth, not only helps filmmakers tell their stories, but also contributes substantially to the sustainable expansion of the film sector with its 1:4 multiplier effect to its value chain, all the while creating more jobs.
‘We believe that Cape Point Film Studios will respond meaningfully to these needs, and once again position our country and continent as an attractive filmmaking destination,’ said Henry F Herring, Director of Cape Point Film Studios.
‘I am pleased to report the approval for the lease of this land which will catalyse the continued growth of Cape Town’s creative economy. This lease carries the potential to create hundreds of jobs, generate almost a billion rand in the local economy, and boost tourism to Cape Town. The creative economy is one of the top-performing sectors in the city.
‘According to the South African Cultural Observatory mapping study of 2022, the cultural and creative industries contributed R161 billion to the country’s gross domestic product in 2020. With the Economic Growth Directorate finalising this lease, we can further invest in Cape Town as a must-visit destination.
‘This project will not only enhance Cape Town’s status as a leading creative hub but also solidify its position as a destination of choice for home-grown and global productions,’ said Alderman Vos.
