Cape Town’s R14 billion in new developments – completed, under construction and in the pipeline

The Cape Town Central City Improvement District (CCID) has published it latest State of Cape Town Central City report, highlighting R14 billion worth of investment into new and future developments in the Mother City.

The report, covering 2019, noted the challenges presented in that year, including the aftermath of the 2018 drought and subsequent water crisis, ongoing load-shedding and a tough economic climate.

While the impact of the 2020 coronavirus pandemic falls beyond the ambit of the SCCR report, it acknowledged the global devastation the virus has caused, noting that it “has damaged the Central City’s economy”.

“But the economic performance of what is arguably South Africa’s most successful Central Business District means the Central City is well-placed to navigate a path to recovery,” it said.

The SCCR report shows that, according to the City of Cape Town’s 2018/2019 property evaluation, the value of Central City property stands at R44.124 billion, and that the total value of property investments in the Central City – recently completed, under construction, proposed or planned – is R13.83 billion.

This is broken down into:

  • R1 045 million – A conservative estimate of the value of property completed in the Central City during 2019 but which still has to be officially assessed by the City of Cape Town (7 projects);
  • R3 730 million – The value of property, conservatively estimated, that is under construction (14 projects);
  • R5 196 million – The value of property, conservatively estimated, that is currently in the planning phase (11 projects); and
  • R3 860 million – The value of property, conservatively estimated, that is currently proposed and is expected to begin construction within the next two years (6 projects).

The Foreshore precinct has emerged as a key property investment node which is due, in part, to the expansion in 2018 of the Cape Town International Convention Centre (CTICC), which achieved a turnover of R277 million in 2018/2019.

However, all inner city precincts are seeing development taking place, as outlined in the maps below:

“The Foreshore has traditionally had the least number of residential complexes in the CBD. In 2019, it had 12 % of the 68 residential buildings. However, with the rise in mixed-use developments supporting the trend for inner-city living, this is set to change,” the group said.

Property worth at least R7.9 billion was either completed, under construction or in the planning or proposal phase in P1 in 2019. This includes redevelopments, refurbishments, upgrades and new developments.

Just over R5.3 billion worth of property was either completed, under construction or in the planning or proposal phase in P2 in 2019. This includes redevelopments, refurbishments, upgrades and new developments.

At least R247 million worth of property was either completed, under construction or in the planning or proposal phase in P3 in 2019. This includes redevelopments, refurbishments, upgrades and new developments.

At least R265 million worth of property was either completed, under construction or in the planning or proposal phase in the East City in 2019. This includes redevelopments, refurbishments, upgrades and new developments.


Completed projects – R1 045 million

Project Developer Cost
The Haylard FWJK R400 000 000
Signature Lux Signature Lux Hotels R210 000 000
Capetonian Hotel Raya Hotels R200 000 000
Gorgeous George Tobias Alter R100 000 000
Labotessa Jan Fourie and Johan du Plessis R75 000 000
Tuynhuys Willbridge Property R60 000 000
UrbanOn Bree UrbanOn TBC

Under construction – R3 730 million

Project Developer Cost
16 on Bree FWJK R860 000 000
35 Lower Long Street Abland R500 000 000
The Rockerfeller at Harbour Place Narrative/Ryan Joffe Properties R500 000 000
58 Strand Street Boxwood Property Fund R400 000 000
Hotel Sky WBHO R400 000 000
Foreshore Place HBW Group R373 000 000
The Duke The Mosaic Group R210 000 000
Iziko SA Museum Expansion Iziko Museums Trust R187 000 000
84 Harrington Street Wolf & Wolf Architects R120 000 000
The Harri Sepia and Silk R70 000 000
Fleetway House HOMii Lifestyle R60 000 000
Mike’s Sports Gera Investment Trust R50 000 000
Kesler HOMii Lifestyle TBC
Adderley HOMii Lifestyle TBC

Proposed – R3 860 million

Project Developer Cost
Zero-2-One Tower FWJK R1 500 000 000
The Modern Ingenuity Property Investments R1 500 000 000
Cullinan Square Tshogo Sun R860 000 000
Murray & Roberts Accelerate Property Fund TBC
60 Queen Victoria Street RDC Properties SA TBC
Spindle Robert Silke & Partners TBC

Planned – R5 196 million

Project Developer Cost
City Park Ingenuity Property Investments R1 300 000 000
The Vogue FWJK R1 100 000 000
The Matrix Boxwood Property Fund R850 000 000
The Box Boxwood Property Fund R570 000 000
The Rubik Abland R500 000 000
27 Lower Long Street Ingenuity Property Investments R476 000 000
6 Jack Craig Ingenuity Property Investments R350 000 000
14 Long Street Boxwood Property Fund R50 000 000
The Pinnacle Investicore TBC
142 Bree Street Arctigen TBC
Telkom Exchange Foreshore Telkom TBC

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Cape Town’s R14 billion in new developments – completed, under construction and in the pipeline