Mashaba turns first sod on new Johannesburg CBD development
Divercity Urban Property Fund has begun work on its R1.2bn multi-use development, Jewel City
Divercity Urban Property Fund has turned the first sod of the Jewel City redevelopment in Johannesburg's CBD. The recently formed private property fund is investing in the inner city and one of its key projects being the multi-use asset, Jewel City, which will be worth more than R1.2bn when complete. Divercity’s major shareholders, Atterbury Property, Ithemba Property and Talis Property Fund as well as its cornerstone investors RMH Property and Nedbank Property Partners, attended the ceremony where the first sod was turned by Johannesburg mayor Herman Mashaba, Joburg’s MMC for development planning Reuben Masango and nonexecutive director of Atterbury Property Fund Phuti Mahanyele. Jewel City, which spans six city blocks which used to house SA's diamond and minerals trade, has been closed to the public for a decade. By redeveloping its existing buildings and constructing new ones of over 40,000m², Divercity is converting it into the heart of a thriving, modern inner-city neighbourhoo...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.