Major new ‘city’ coming to South Africa’s wealthiest area
Calgro M3 and Eris Property Group (EPG) are working on a massive new development in South Africa’s richest area, with R18 billion in potential revenue.
Last month, Calgro M3 and EPG formalised the acquisition of a land parcel situated between Marlboro and Waterfall in Johannesburg. The parcel will be used for the Bankenveld District City (BDC) development.
The development will deliver between 20,000 and 30,000 housing units as well as commercial, retail, and industrial spaces.
Roughly 34% of the land will be used for infrastructure projects, such as roads, stormwater management, and green belt areas.
Calgro M3 said that the project has the potential to generate upwards of R18 billion in revenue – doubling its existing project pipeline.
EPG previously said that the 300-hectare development will be located just off the Marlboro offramp, close to Sandton and with N3 highway exposure, making it Johannesburg North’s most connected precinct.
It is also situated adjacent to the Marlboro Road Gautrain station.
“The business precinct is near established and developing residential areas. This level of proximity addresses the growing need of communities to work close to home,” said EPG.
“As more and more people opt to work closer to home, BDC is ideally situated to attract a large workforce that will find the commute to and from work compatible with work-life balance and the lifestyle they want to achieve.”
It will have 500,000 sqm of Warehouse & Logistics, Retail and Commercial developments.
BDB is also set to have state-of-the-art security with access control and energy-efficient buildings.
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