The R2 billion-plus redevelopment of Johannesburg’s inner-city district, dubbed Jewel City, is preparing to launch on Heritage Day, 24 September.
The development, which broke ground in 2018, is a mixed-use precinct spanning six city blocks.
Jewel City is located in the eastern CBD of Johannesburg, on Fox Street, between the existing Maboneng and Absa precincts.
Atterbury, the developers said the plan is to open up the precinct which has been closed to the public for several years, and ‘pedestrianise’ Fox Street, creating a safe, green, space for people to enjoy.
The project is under the management of DiverCity, which is partnership between Atterbury and iThemba Property – previously Circlevest.
Upon completion, the new district will include:
- 20,000 square metres of commercial office space
- 7,000 square metres of retail space at completion
- 1,550 new residential apartments
- 40,000 square metres in brand new buildings
- Safe pedestrian urban precinct
- Vibrant living, shopping and office environment of six city blocks
- Ample parking
- Convenience retail
- Fast food outlets and restaurants
Speaking to Moneyweb ahead of the 24 September grand reopening, Divercity chief executive officer Carel Kleynhans said that R1.8 billion has been invested in the project so far, with another R1 billion planned for the second phase.
Other projects being handled by Divercity in the inner city include the R400 million Absa Tower refurbishment, as well as new builds in the Maboneng precinct.