FWJK Developments has secured the rights to develop a new 70,000m² sectional-title P-Grade office skyscraper in the Sandton central business district worth R2bn, says group regional director Rhys Rocke. The project, dubbed Northern Lights, will add four 38-level towers to the Sandton skyline. The new development is in the banking node at the intersection of Fredman Drive and Rivonia Road and is situated between the Maslow and Hilton hotels. Road upgrades planned to service the development will result in a six-lane extension of Fredman Drive constructed as part of the new midblock road due to join Grayston Drive. The top two floors will be residential penthouse suites. "Following the success of our R500m Illovo Point development on Rivonia Road currently under construction, we have office end-users and investors lining up to secure space at cost, which is roughly 20% to 30% below current market selling prices," said Rocke. "Our investment model allows end-users and investors to purch...

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