Current
Developments

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.

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15%

Land

20%

Residential

65%

Residential

R1.7Bn Development Pipeline by Assets Class

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15%

Land

20%

Office

41%

Residential

33%

Retail

R3.6Bn Forecast June 2020 GAV Asset Class

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Jewel City Precinct: R750m+

  • R700m in Phase 1, R1.2bn on completion
  • Mixed-use precinct spanning six city blocks
  • 1,200 apartments in Phase 1
  • 17,000m2 of office GLA
  • 10,000m2 of national retail anchors: supermarket, pharmacy, gym
  • Amenities: school, day clinic, sport facilities, new urban park and pedestrian walkway
  • Scheduled completion: Q2 2020

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ABSA Towers Main: R400m

  • Mixed-use conversion of the existing 30-storey structure
  • 519 apartments
  • 10,000m2 of office space leased back to ABSA
  • New premises of the ABSA Art Gallery
  • 1,000m2 ground floor retail
  • Childcare facilities and landscaped urban park
  • Scheduled completion: Q1 2020

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Maboneng Residential New-build: R360m

  • Three new-build, mid-rise apartment buildings in Maboneg Precinct; close proximity to Jewel City
  • Rentals ranging from R2,700 – R5,500pm
  • All include ground floor retail and communal amenities
  • Total apartments: 1,073
  • Scheduled completion: Q4 2019
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