Public Works and Infrastructure Minister Dean Macpherson made the announcement in Parliament during the second day of the debate on the State of the Nation Address.

Macpherson highlighted that this initiative is expected to create over 15 000 jobs.

"In our first round of proposals, we have released 31 properties for redevelopment at a value of $76 million. Mr President, this is going to generate up to $540 million in private sector investment, create 165 000 jobs, and generate close to $5.40 million in rental income for the South African government. This is what the Democratic Alliance is delivering in the GNU," Macpherson said.

--SABC/ChannelAfrica--