Divercity currently has R1.7bn of developments approved by its investment committee and under construction in the Johannesburg CBD.
The pipeline is heavily weighted towards affordable residential offerings at 65% of development value, with complementary office and retail offerings making up the balance. This pipeline is scheduled for completion by June 2020, at which point the forecast fund GAV including newly developed assets will amount to c. R3.7bn (including investments in associates).
Given the shortage of centrally located, well designed and amenity rich living environments that cater to low- and middle-income households, we believe there is a significant latent demand for precinct-scale developments of this nature throughout South Africa.
Divercity is currently pursuing multiple precinct-scale opportunities and sees a multi-billion Rand sustainable investment pipeline despite the current economic climate.