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The Rubik: only 4 units remaining in Cape Town’s luxurious development

With few penthouse apartments available for sale, The Rubik – a live-work-play lifestyle mixed-use development offers attractive investment returns.

Centrally located in the Cape Town Central Business District (CBD), The Rubik’s residential apartments are being snapped up by savvy investors seeking lifestyle living – with five of nine luxury penthouses sold.

The remaining three penthouse apartments, featuring bespoke designs, are situated on the 25th and 26th floors, and some have private roof terraces on the 27th floor. Penthouses are priced from R8.031 million – R15.949 million.

The Rubik not only offers luxuriously designed apartments – investors can expect short-term target returns of more than 10%,” says Charles Norris, sales manager at Abland Property Developers.

Penthouse apartments have seen great demand from buyers looking to invest in a lifestyle development in one of the city’s sought-after locations, says Norris.

Excluding the penthouses, there is just one, three-bedroom apartment left for sale as demand for luxury city living is on the rise in Cape Town.


Ideally situated on the corner of Loop Street and Riebeek Street in Cape Town, The Rubik is close to the growing financial hub with world-class amenities.

The Rubik is a mixed-use development with 87 residential apartments, 403m2 of retail space split over the street and mezzanine level, and 4 900m2 of premium grade offices.

Buyers include local and international owner occupiers and investors who account for more than 84% of total buyers. Buy-to-let investments offer long-term rentals and short-term rentals for Airbnb purposes.

As a completely brand-new building, rather than a conversion from an old office building, purchasers benefit from modern efficiencies of building designs.

The Cape Town CBD, perceived to be South Africa’s most thriving, live-work-play location, continues to attract investments.

About R3.555 billion in property investments were recorded in 2022 including completed developments and redevelopments, as well as those under construction, in the planning phase, and proposed developments.

This is according to the 11th edition of the State of Cape Town Central City Report 2022, released last year and published annually by the Cape Town Central City Improvement District (CCID).

Investor confidence in the central city is further seen in the sustained growth in the overall official value of all property of over R12.2 billion in 2016/17 to R42.9 billion in 2022, according to the City of Cape Town’s property evaluation.

As demand for city living continues to rise, more residential developments like The Rubik, are coming to the market to meet demand.

In 2022, the number of residential apartments increased from 5 791 recorded at the end of 2021 and 4 954 at end of 2020 to 6 827.

Norris says The Rubik is well-positioned and should benefit from increasing property values while residents enjoy the live-work-environment and the best in class amenities in the central city.

Furnished by Rene Van Der Merwe of Infinity Interiors. Available for short term rental with Hosted Property Management.

Semigration boost

Increased semigration into the Western Cape has benefitted the Cape Town property market, with buyers increasingly seeking modern and secure lock-up-and-go lifestyle properties such as The Rubik,” says Norris.

Data from Lightstone shows that semigration continues to benefit the Western Cape, along with ongoing growth in popularity of estates and sectional title schemes.

Lightstone’s data shows that during 2019 and 2023, property sales of between R100 000 and R20 million in the Western Cape increased from 23% to 27%, while Gauteng fell from 43% to 39%.

Semigration has been a trend in the residential property sector as people increasingly seek better lifestyles in locations with functioning infrastructure.

The Covid-19 pandemic in 2020 accelerated this trend as most people had the flexibility to work remotely enabling them to move to another city or province.

Luxury designs

Apartments offer unrivalled city and mountain views, easy access to and from the city, with a 24-hour concierge security.

The spacious apartments feature contemporary interiors to suit individuals who appreciate modern design. These include a double-glazed façade, air conditioning units, Hansgrohe taps and Siemens integrated appliances among others.

While the current trend is smaller apartments especially in the CBD, these apartments are much bigger. There is a roof top swimming pool, braai facilities, and a sundeck to take in the spectacular city views.

Interior finishes feature wood, stone, and glass to complement The Rubik’s contemporary design and style.

The Rubik is a great investment for investors looking for stable rental income, or for occupiers seeking a lifestyle offering in the heart of Cape Town.”  

To enquire directly about The Rubik’s remaining units:

Charles Norris ( / 071 419 0200)

Tash Krauss ( / 072 080 9144)