Property investor reaps rewards in the Joburg CBD
Revamped commercial buildings in secure precincts appeal to companies operating in the inner city
When the Johannesburg Central Business District (CBD) went through a period of decay as investors and property owners fled the inner city, some saw an investment opportunity to cater to the changing demographics.
Traditionally, the inner city was predominantly a white area, and when SA became a democratic state the CBD demographics changed. Many who had invested left the CBD, businesses moved to the northern suburbs of Johannesburg including Sandton and Rosebank — and this contributed to the decay of the Johannesburg CBD. Criminal activity and homelessness increased, driven mainly by abandoned buildings, many of which were hijacked by criminals as the owners fled...
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