Chinese property developer says ready to partner South Africans in business

A Chinese property developing company, Shanghai Zendai on Thursday vowed to involve the South Africans in their project in Johannesburg worth 84 billion rand (about $7.7 billion).

Speaking at the Africa-China Forum in Johannesburg, Wenhui Du, the chief operating officer of Zendai, said the project would take about 15-20 years, and creates about 200,000 jobs.

"I would like to assure you that I will work closely with local partners. It will be inclusive to expedite development and partnerships. We will also employ local people skilled and unskilled people. We represent the confidence of the Chinese companies in South Africa."

The project covering 1,600 hectares with malls, stadium, schools, leisure places, cultural centres, and 100,000 residences is expected to attract direct foreign investment in the country, said Du.

"We are not building a Chinatown or city. The model of the project is on the South African culture which suits the needs of the future. We have a positive vision for which would alter the landscape of the future of Johannesburg."

The project, Du said, will also involve renewable energy or green space.

To show commitment to the project, Du resigned from the position of the president of Zendai managing projects in China to come to South Africa and see the project taking shape.

He said, "We chose South Africa because there is stable political environment in the country and that the country is part of the Africa rising story. South Africa has a growing middle class which then translated to appetite for new development. In China when the population grows, the demand for land and estate grows and we see a similar story happening in South Africa."