Divercity Partners with Pareto Limited on Menlyn Park Residential Development
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- 4 December 2025
Divercity was selected as Pareto’s residential development partner following a competitive request for proposals process. The two companies will co-design and co-own the development on a 50/50 basis, with Divercity managing the completed precinct through its subsidiary, Ithemba Property Management.
What the development includes
The project combines two delivery streams. 460 apartments will be created through the conversion of existing three and four storey office buildings, while a further 740 units will be built across four new blocks of up to ten storeys. Both streams will be delivered simultaneously, with the first apartments expected in 2027.
Why Menlyn
The Menlyn node has grown steadily over the past decade, anchored by Menlyn Park Shopping Centre and the continued expansion of Menlyn Maine nearby. Demand for well located rental housing in established, well serviced urban nodes has grown alongside it. Residents at the new development will have direct, walkable access to more than 400 stores, restaurants and services within Menlyn Park, along with the green, tree covered surrounds of the office park itself.
This is the kind of location that reflects how Divercity approaches development. Rather than building on the edges of a city, we look for opportunities to strengthen nodes that already work, adding housing where people already live, work and move through daily life.
A partnership built on shared intent
The Menlyn Park project reflects a shared conviction between Divercity and Pareto that quality rental housing and strong commercial precincts reinforce each other. For Divercity, it extends a track record of turning underused urban space into professionally managed rental housing that supports long term, inclusive city growth. For Pareto, it strengthens the long term value and relevance of one of its flagship retail assets.
Read the full article on Moneyweb.