Amdec makes progress on replicating Melrose Arch success in the Cape
Construction of the first of six towers at Cape Town’s Harbour Arch is to begin in February 2019
The developer of high-end, mixed-use precinct Melrose Arch, Amdec, says it will take between five and 10 years to complete Harbour Arch as it looks to replicate its flagship asset’s success in Cape Town. Melrose Arch, the construction of which began in 2005, is 75% owned by Melrose Arch Investment Holdings, with the balance co-owned by the Liberty Group and Liberty Two Degrees. MD Nicholas Stopforth said Amdec would begin constructing the first of six towers in what would eventually be a R10bn investment this year. Harbour Arch would include 220,000m2 of lettable space. “This is our largest development in Cape Town and we are very excited about it. We launched the first tower for sale off-plan in October 2017, and have almost sold out of residential units. We will begin constructing the tower in February and will then gradually roll out the others,” he said. Stopforth said Harbour Arch — which will include hundreds of apartments, office space, car dealerships and a retail portion — ...
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