The Evolution of Sandton: How 32 Hectares Became Africa’s Richest Square Mile
Sandton is known today as Africa’s richest square mile, a globally recognised commercial centre and one of South Africa’s most desirable business districts. Yet just over five decades ago, this thriving node was rural farmland. Its transformation into a premier commercial hub continues to shape investor demand and corporate strategy.
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The Early Years: From Farmland to Strategic Opportunity
Between 1967 and 1969, developers Michael Rapp and brothers Hilliard and Eli Leibowitz assembled 32 hectares of land in Sandhurst. Originally intended for a boutique residential community and a small shopping centre, the landholding became significantly more valuable after the Johannesburg Town Council created the new municipality of Sandton in 1969.
This new administrative boundary brought Sandhurst and Bryanston together, placing the developers’ land adjacent to what would become the new commercial centre. This shift inspired a bold change in direction, moving the project away from low-density housing toward a large, modern commercial node.
Public Resistance, Infrastructure Requirements and Land Challenges
The proposal for a high-density commercial centre caused concern among local residents, leading to heated public hearings. Nonetheless, all required procedures had been followed, and approvals were finally granted in 1973.
To secure development rights, the team had to invest in significant infrastructure upgrades:
- widening Sandton Drive
- constructing a new link road to Katherine Street
- funding traffic-related improvements
Two private land parcels also complicated progress, with one owner demanding more than double market value before agreeing to sell.
Financing was another challenge, requiring a R20 million debenture, a large and risky undertaking for the time. Despite internal hesitation, Michael Rapp’s international research, including visits to Yorkdale Shopping Centre in Canada, shaped the ambitious commercial design that ultimately defined Sandton City.
Breaking Ground: The Birth of Sandton City
Construction began in 1970. The site’s position along the new Johannesburg-Pretoria highway provided ideal regional access, strengthening its commercial viability.
Sandton City opened on 12 September 1973. Despite early predictions of failure, the project quickly exceeded expectations. The office tower achieved full occupancy, and the retail centre attracted substantial foot traffic. Corporates, frustrated by congestion in the Johannesburg CBD, began relocating to Sandton for its space, parking availability, and modern buildings.
This movement cemented Sandton’s role as the new epicentre of Johannesburg’s commercial activity.
Becoming Africa’s Richest Square Mile
Over the next several decades, Sandton evolved into South Africa’s financial powerhouse. Today:
- 7% to 10% of JSE-listed companies maintain Sandton addresses
- the Johannesburg Stock Exchange relocated to Sandton
- global banking and consulting firms established flagship headquarters
- nearby residential suburbs like Sandhurst, Hyde Park and Inanda became some of the wealthiest in the country
Ownership of Sandton City is now held by Liberty Holdings (75 percent) and Pareto Limited (25 percent), with Liberty Properties overseeing management.
Sandton City’s Expansion: A Retail and Office Landmark
From its initial 50,000 m² footprint, Sandton City has undergone multiple expansions. A R1.77 billion redevelopment in 2011 increased its size to more than 146,000 m² and added:
- Protea Court
- Diamond Walk
- Fun District
- Food District
- Checkers Court
- adjoining office components including the Sandton City Office Tower
With more than 300 retailers and millions of annual visitors, Sandton City remains one of the country’s highest-performing retail destinations.
Featured Commercial Opportunities in Sandton
Below are standout examples of premium commercial spaces currently available through Galetti:
6000 m² P-Grade Offices at Bayport Building, 3 Alice Lane, Sandton Central
A prime office opportunity within walking distance of Sandton City, major hotels and the Gautrain. The building features secure basement parking, backup power, canteen facilities and excellent corporate visibility.
➡️ View the Bayport Building Listing
4000 m² A-Grade Offices at The Ridge, Discovery Place, Sandhurst
An exceptional corporate address within the Discovery Place precinct, offering flexible floor plates, Green Star design, security, access control and on-site lifestyle amenities.
➡️ View The Ridge Listing
Why Sandton Remains a Prime Commercial Property Market
Sandton continues to attract top-tier occupiers and major investors due to:
- strategic access via road, Gautrain and pedestrian routes
- a concentration of multinational and JSE-listed companies
- modern commercial buildings with continuous redevelopment
- excellent retail, hospitality and lifestyle amenities
- proximity to sought-after executive residential suburbs
For businesses seeking premium commercial property, Sandton offers visibility, connectivity and long-term value that few other African nodes can match.
Information sourced from BusinessTech
