UN-PRI Awards shortlist Divercity’s Jewel City in Johannesburg
- 717 Views
- 4 October 2022
As one of the five highest-scoring qualifying entries in the awards’ other four categories, Jewel City has also been shortlisted for the UN-PRI “emerging markets initiative of the year” award.
Jewel City is the only project from the African continent to be shortlisted for this year’s UN-PRI Awards. The winner of each UN-PRI Awards category will be announced on 1 December 2022 in Barcelona, Spain.
This news comes hot on the heels of Jewel City being named the winner of two prestigious South African Property Owners Association (SAPOA) 2022 Property Development Awards for Innovate Excellence: Best Residential Development and the overall Transformation (impact) Award.
“These honours are significant because they are independent third-party validation of our thesis that developing affordable, desirable residential precincts in amenity-rich central locations is a powerful means of positive impact that delivers solid commercial returns,” says Carel Kleynhans, CEO of Divercity, South Africa’s leading investor in well-located affordable housing precincts.
The awards underscore Divercity’s ESG and impact ethos, which is at its core. They confirm Divercity as a leader in well-located housing precincts, which are successful commercially, socially and environmentally. Divercity will continue building a portfolio of the most affordable in-class residential rental assets in well-located precincts with supporting amenities, enabling people to thrive where they live.
Jewel City shines
The success that Jewel City is enjoying on the ground is extremely exciting.
Jewel City is a thriving, modern neighbourhood that has become the heart of Johannesburg and is reviving inner-city living. It spans six city blocks of unmatched urban amenities where Divercity has invested substantially in essential amenities such as childcare, education, healthcare, sport facilities, public recreational spaces, and daily retail.
Since launching two years ago, it has gone from strength to strength – Jewel City’s residential apartments are fully let, and its retail is trading strongly. Jewel City retail outperforms comparative centres in all trading categories and continues to report double-digit turnover growth annually. Its national brand tenants, such as Checkers, Clicks and Pep, outclass their namesakes in similar retail settings.
These achievements clearly indicate the insatiable demand for well-located, affordable residential accommodation in great precincts.
About the UN-PRI Award ‘real world impact’
The UN-PRI ‘real world impact’ award is given to a signatory who has sought to align its investments with global goals across its portfolio or for given asset classes or an investment product, with an approach that is an example of investing with UN Sustainable Development Goals (SDGs) or more broadly investing for sustainability impact. It explicitly seeks approaches with broader applications than traditional impact investing.
Global goals are set through international agreements and frameworks, national implementation, or societal expectations, including the UN SDG goals and targets, The Paris Agreement, UN Guiding Principles on Business and Human Rights, The OECD Guidelines for Multinational Enterprises and other environmental, social, governance, and development objectives established by political or socio-economic institutions.
About the SAPOA Property Development Awards for Innovative Excellence
These awards are the most prestigious programme of its kind within the South African commercial real estate industry. They honour outstanding contributions to South Africa’s built environment and celebrate developments with positive impacts on our cities and towns.