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Rabie has sold more than R550million of residential property at Burgundy Estate since getting involved as a joint venture partner with Nedbank in early 2015.
The continued strong take up of offices at Century City has seen almost all new stock being mopped up and overall vacancies dropping to 7,4% in April from just under 10% in January this year and 12,1% in the fourth quarter of last year.
A new development of 16 300 square metres of premium grade offices, which will include new regional offices for Discovery, is to be built on a prime gateway site at Century City.
The mixed use Century City Square development, which was developed by the Rabie Property Group at a cost of R1billion, has been awarded a 4-Star Green Star – Custom Mixed Use Design rating by the Green Building Council of South Africa.
Construction of Palm Brook, the fifth block of apartments in the Oasis Luxury Retirement Resort at Century City where 23 apartments have already been sold for more than R120million, has now commenced.
A 3000 square metre, low-rise, sectional title office development designed to meet the demand of owner occupiers wanting their own smaller buildings with their own corporate identity are under construction at Century City.
Construction of Manhattan Quarter, a complex of 63 apartments overlooking the Grand Canal in Century City, has topped out and is on schedule for completion in mid-October.
The second office block at Century City for global engineering company Aurecon has been awarded a 5-Star Green Star Office v1 Design rating by the Green Building Council of South Africa (GBCSA).
A 555 square metre two storey office block in Greenford Office Park in Kenilworth has been purchased by Century Blue Trust for R8,3 million.
Absa Bank is set to consolidate its 14 offices in the Western Cape to one centrally located regional office at Century City.