South Africa’s commercial real estate sector continues to thrive and evolve alongside changing understandings of how we live, work, and play. Whether in Gauteng, KwaZulu-Natal, or the Western Cape, there is a wealth of options available when it comes to corporate real estate.
Read on to learn more about some of South Africa’s most popular business real estate locations.
Waterfall City, Midrand
Home to the famous Mall of Africa, Waterfall City is equipped with residential and recreational estates, corporate campuses, among many more amenities and features. It is no wonder the location attracts some of the country’s largest multinationals, namely Colgate Palmolive and Honda SA. In fact, major international firms such as PwC have chosen to relocate to this hive of commercial activity from their previous premises in Rosebank.
This Johannesburg business hotspot has experienced steady growth over the years, attracting young, trendy working professionals from all over South Africa, drawn in by its buzzing nightlife and proximity to corporate offices. Sophisticated bars and restaurants like Sin + Tax and Saigon Suzy are a hop away from massive international and multinational companies like Anglo American and Discovery.
South Africa has witnessed significant ‘semigration’ to coastal areas, say, experts, because of the ‘Zoom Boom’ brought on by the pandemic. Research has shown that cities on the coast are actually out-performing their inland peers as more professionals relocate to accommodate changing lifestyles. This has given rise to increased commercial property performance on the coast and today, Umhlanga’s reinvigorated skyline is home to the likes of Old Mutual, Unilever, and the Standard Bank Group.
Cape Town CBD, Western Cape
The Cape Town CBD continues to contribute greatly to the South African economy, and some of its most prominent commercial residents include Media24, whose offices enjoy picturesque views of the Atlantic Ocean and Table Mountain. One of Cape Town’s most recent development projects is Harbour Arch; the CBD’s first large-scale mixed-use development that aspires to attract professionals to live, work and play in a convenient, secure, and sustainable environment.
Looking into the future
The evolution of our working environments has been fuelled by increased connectivity, and certainly the emergence of COVID-19 in early 2020. Stakeholders in the corporate real estate industry have been tasked with reimagining traditional business locations and the ways that these reflect retail, residential, and corporate spaces.
Want to know more about your commercial real estate options in South Africa? Get in touch today.