Bringing the sheen back to Egoli’s inner city over two decades
Well-known property developer Gerald Olitzki says the perception that the CBD has not seen sizeable investment in recent years is not true
Attorney Gerald Olitzki, who is well-known for buying and developing buildings in Johannesburg’s inner city, says the perception that there has been no sizeable investment there in the past two decades is inaccurate. Recently Divercity Urban Property Fund was launched with R2bn of inner city assets. The group committed to investing a further R2bn over the next 18 months to redevelop Absa Towers Main and create the new mixed-use, six-block Jewel. Some commentators have said this would be the largest once-off investment in the inner city in decades, but Olitzki says many people have been putting money behind projects in Johannesburg since the turn of the millennium. Is Johannesburg’s inner city in dire straits? Johannesburg is very large and the inner city has many faces. There are parts which need attention and investment, but there are also parts which are being managed very well and are of a world-class standard. How long have you worked in Johannesburg and why don’t more companies...