“Bustling demolition sites in and around the Sandton CBD, and the more than 20 construction cranes that dot the skyline above it, will open new rental and sell opportunities for owners of nearby residential property.”
This is the view of Ronald Ennik, founder and CEO of Christie’s-affiliated luxury homes marketer Ennik Estates.
“The rollout of the latest batch of new corporate headquarters and other commercial projects in Sandton reinforces a tempo of development growth over the past few decades that is unmatched by any other business district in the country,” says Ronald.
“In the process, the surrounding suburbs of Sandton became – and remain – one of the most dynamic residential property nodes in South Africa.”
He notes that some of the new commercial project sites are being built on for the third time since the opening, in the 1970s, of the iconic Sandton City complex.
“They include the sites of the new headquarters of petroleum group Sasol, on Katherine Street, and law firm Webber Wentzel (at the corner of Katherine and Rivonia Road).
“Between them, these two developments alone are expected to accommodate around 5 000 executives and other employees,” says Ronald.
“Many of the people who will work in these and other developments and redevelopments will seek to live close to their new offices – and to the vibrant, trendy and cosmopolitan high-street lifestyle that the inner Sandton precinct has to offer,” he concludes.