In a long-awaited move, the much-anticipated R2-billion Granger Bay Precinct development officially broke ground this week adjacent to Cape Town’s DHL Stadium.
This project, nearly two decades in the making, promises to reshape the landscape of Cape Town’s vibrant waterfront area, incorporating a variety of mixed-use spaces that could transform tourism and commerce in the region.
The Granger Bay Precinct will feature a stunning international hotel boasting 190 rooms, 200 residential apartments, an expansive 3,000 square metre retail area, and 14 000 square metres of premium-grade office space.
As demand for premium commercial and hospitality facilities in the area continues to climb, developers are confident that this project will thrive, contributing significantly to the local economy.
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According to reports reported by property broker Ash Muller, the V&A Waterfront precinct has consistently struggled with availability due to high demand. With office rental rates exceeding R190 to R320 per square metre (excluding VAT), it is clear that the Granger Bay area remains one of the hottest spots in the Western Cape — if not all of South Africa.
As Cape Town cements its status as the conference capital of the country, evidenced by record bookings at the Cape Town International Convention Centre (CTICC) for the next two years and plans for expansion, the need for high-quality accommodation and commercial facilities amplifies.
The proximity of the DHL Stadium, known for attracting over 1.2 million visitors annually due to various events, further enhances the appeal of the Granger Bay Precinct as a tourism hub.
The Granger Bay Precinct is a collaborative effort between the Feenstra Group and Devmark Property Group, with backing from RMB. With work now underway and an eye on completion set for 2028, as per a report by property broker Ash Muller.
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Picture: Ash Muller / LinkedIn
