The City of Cape Town on Wednesday said its land deal with media group Naspers is nearly completed.
Naspers has signed over a piece of parking space to the municipality for the expansion of the Cape Town International Convention Centre.
The property will cost the City R106 million.
City spokesperson Priya Reddy said the land should be officially theirs by June.
"We submitted our application to the Competition Board for approval in terms of the sale and transfer of property. The board will give us a response within 60 days. The contract conditions need to be fulfilled by 31 May by the city.”
The contentious land deal is also being investigated by the Public Protector.
The ANC believes the multi-million Rand price tag was grossly inflated.
The Office of the ANC Chief Whip's Moloto Mothapo said, “We are very happy that the matter is receiving the highest attention by the Public Protector’s office.”