CENTURY City in Cape Town is continuing to attract new investment, with
projects currently on the drawing board now exceeding R1,5bn.
Greg Deans, MD of Century City, the developer of the 250ha mixed-use
development, says that although the office market has slowed, Century City
has succeeded in attracting smaller owner occupiers, having sold nine of the
12 development opportunities in the cluster-office development of Waterford
Mews.
"There is no doubt there are still pockets of activity in this sector of the
market and we are well down the line to launch a second, similar development
within the Waterford precinct that will also be market driven," says Deans.
Other tenant-driven commercial developments both offices and retail were on
the drawing board, and would be timed to coincide with an upturn in the
commercial property market.
Deans says that negotiations with an international investor for a large
commercial project at Century City are close to finalisation. Work is
expected to start within the next few months.
Other new commercial projects include a value retail and lifestyle centre to
complement the Canal Walk development.
In Gauteng, Barrow Construction celebrates its 106th anniversary this year
with the fifth generation of Barrows carrying on the tradition.
The company believes it is well positioned for continuing growth with its
focus on medium to largescale commercial and residential developments either
independently or as joint ventures and a spectrum of services.
"We are competitive in the R10m to R50m market, and pride ourselves on
delivery on time or better. You would be surprised at how much store the
market still places on those attributes," says John Barrow