Sleep, study, eat. Sleep, study, eat.

Sleep, study … art?

For tertiary level scholars studying in Johannesburg, far away from their roots and often with the weight of their family’s expectation on their young shoulders, the chance to find beauty and breathing space amidst the relentless learning may seem like a fanciful dream. However, at Thrive Student Living’s new Arteria Parktown 500-bed student residence, the art is right there in – even on! – their custom-built home away from home.

Local poet, healer and multi-disciplinary artist Thobile Mavuso was commissioned by Thrive Student Living to create a mural for the R200-million Arteria Parktown property and designed a unique artwork that encapsulates both the displacement and excitement of student life in “res”. The piece is fittingly entitled Ukuzilanda Ukuzilandela Nokuzelapha, which loosely translates as “to return to one’s roots is to care for and heal oneself.”

For artist Thobile – who is currently doing a master’s degree in Fine Art at the University of the Witwatersrand – those roots are in her Ndebele background, echoes of which are found in her vibrant yet restful mural. Painted on an internal courtyard wall in acrylic, using a palette of teal, yellow ochre, red and green, this vast piece features a circle of connected figures in traditional headdress… or perhaps a tangle of opening flowers… or perhaps a patchwork of homesteads amidst fields…

Whatever, it begs to be looked at, to be contemplated.

And that is precisely the point.

The Arteria Parktown mural, says Thobile, explores “the wounding that comes with displacement, dispossession and landlessness that many South African people experience, which often leads to a loss of cultural identity, heritage and traditions.”

The interplay depicted between the human body and the land communicates the interconnectedness of the two, she explains. “It encourages enquiry into one’s history, roots, and imvelaphi – one’s origins – as a means of care and healing. The artwork aims to suggest that through knowing who one is they may find what they are not.”

Thobile was commissioned by Thrive Student Living in consultation with Latitudes, the curated online market for art from Africa, and South Africa in particular. This collaboration was a natural one, as Latitudes’ inclusive ethos mirrors that at Thrive.

“Latitudes is not just a marketplace but an educational platform about and for art,” says co-founder Roberta Coci. “The difference is in our approach. We are flexible, inclusive, and insistent on equitable participation for all players, from the artists, like Thobile Mavuso, to the galleries, curators, and the collectors – many of whom first find the courage to start buying art through our open, inclusive showcase.”

Thrive Student Living benefits from Growthpoint Properties’ award-winning green building initiatives and ongoing mission to create healthy, sustainable environments, with a socially conscious mandate.

“We believe in lifting as we rise and endeavour to partner with members of the university community where possible,” stresses Amogelang Mocumi, Fund Manager of Growthpoint Student Accommodation, which operates Thrive Student Living. “The decision to partner with Thobile was easy given that she is a Wits student and her work resonates with what Thrive Student Living stands for.”

Thrive offers tailor-made campus communities, which include study areas, games rooms, gyms, and backup power and water. Its Student Life programme offers round-the-clock support for students, encompassing everything from academic performance to physical health and mental wellness. It is this unique approach that gives parents and bursary providers peace of mind, knowing students are in a fully supportive environment. Ukuzilanda Ukuzilandela Nokuzelapha is a visual extension of this spirit, believes Amogelang.

“Art is a language, a universal form of expression,” he says. “When students who are sitting in the courtyard underneath this wonderful mural, and they then read the plaque detailing its inspiration, they find new meaning in it and derive their own meaning from it.”

Commissioning Thobile Mavuso proved the perfect fit: she is young, female, vibrant, upcoming, locally-based in Joburg, multidisciplinary – she works in paint, photography, text, sound, and printmaking – and a student too, with her own complicated history. Born and bred in the city, she has long wrestled with her Ndebele culture. She started writing poetry in earnest at the age of 11 to process her emotions around troubles at home, culminating in the publication of her award-wining anthology Songs Broken Women Sing in 2019.

“This latest artwork calls for its viewers to remember who they are no matter how far away they may feel or be from their ancestral lands and events,” she says. “Their work is to celebrate their culture, and to keep it alive. Culture, like art, is a living thing.”

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In the heart of Johannesburg’s north, a quiet, vital workforce has been thriving for the past six years at one of the city’s foremost office addresses. Eight honeybee hives nestled within the lush grounds of Growthpoint Properties’ The Woodlands Office Park in Woodmead are always hard at work, and this year they’re also creating a buzz for the UN designated World Bee Day on 20 May.

The World Bee Day 2025 theme “Bee inspired by nature to nourish us all”, highlights the critical roles bees and pollinators play in agrifood systems and the health of our country’s, and our planet’s ecosystems. The Woodland’s bees exemplify this sentiment.

Set in a 43-hectare game park, The Woodlands is already known for its remarkable blend of nature and business. With tranquil waterscapes, rich birdlife, and freely roaming buck and other small animals, it offers an unmatched environment for both productivity and peaceful retreat. With its resident bee colonies, it’s also playing a small but meaningful role in supporting South Africa’s embattled pollinator population.

Pollinators in peril

South Africa is facing a serious shortage of bees, beekeepers, and secure forage sites—conditions that are critical for agricultural pollination. The eight hives at The Woodlands represent a fraction of what’s needed nationally, but they matter because they form part of a larger ecosystem of conservation-aware stewardship.

Bees pollinate roughly 70% to 80% of the foods we eat. Of the 1,258 known species in South Africa, only two can be domesticated in hives (but not in the same regions) and they are stretched thin.

How do these office-park bees support agrifood systems?

The Woodlands colonies are among the 700 that seasonally support macadamia orchards in Barberton, where their pollination boosts crop yields by as much as 70%.

To pollinate South Africa’s 78,000 hectares of macadamia trees, an estimated 312,000 colonies are needed. Yet the total number of managed colonies nationwide barely exceeds that. Add apples, avocados, butternuts and berries to the mix, and the deficit becomes even more alarming.

During off-season periods when farms must be treated with pesticides, these bees require safe, forage-rich refuges. The Woodlands, with its flourishing stands of acacia, paperbark, fever trees, soetdoring and select non-invasive eucalyptus species, offers exactly that.

Why bees belong

By maintaining safe, pesticide-free apiaries like those at The Woodlands, Growthpoint contributes to pollinator conservation and, by extension, national food security or, as this year’s World Bee Day theme highlights, nourishing us all.

As a bonus, each hive, which has one queen bee fiercely protected by her colony, produces up to 30 kilograms of honey annually under ideal conditions, though recent erratic weather patterns have dampened yields across the country, from Gauteng to Limpopo.

“This initiative reflects the value of adaptive, site-specific stewardship. The hives benefit from an abundant local food source, contributing to a healthy and balanced ecosystem within the park,” says Martjie Cloete, Growthpoint Properties Sustainability Manager – Projects.

She adds, “Every small act counts in safeguarding our pollinators. The Woodlands bee project is a reminder that even in urban settings, nature can thrive when given the chance and when our environment is treated as a vital part of our future.”

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Growthpoint Properties (JSE: GRT) has reached another milestone in its ongoing strategy to improve the quality of its directly held South African portfolio with the completion of Phase 2 of the Arterial Industrial Estate in Cape Town.

Driving its domestic portfolio enhancement, Growthpoint has strategically grown its logistics and industrial assets from 15% to 20% of the total SA portfolio value in recent years.

At the same time, South Africa’s leading REIT (real estate investment trust) has increased its exposure to modern logistics warehouses, the backbone of Growthpoint’s long-term value creation approach in this sector. Modern logistics properties are and now represent approximately half of the portfolio’s gross lettable area. It is also focusing its investment in better performing, higher demand areas of the country, specifically in the Western Cape and KwaZulu-Natal.

A notable stride in this direction is the recent completion of Phase 2 of the Arterial Industrial Estate in Cape Town, adding quality capacity to the sought-after location. With 21,831sqm of additional lettable space, Phase 2 has added six more warehouse units, ranging from 2,945 square meters to 5,713 square meters, catering to a variety of business needs. Together, both phases of the development represents a nearly R400 million investment from Growthpoint.

The estate is experiencing strong demand, with two of the six units in Phase 2 already snapped up supported by strong tenant interest, highlighting the need for high-quality industrial space in the region. Phase 1 of Arterial Industrial Estate, spanning 19,741 square meters is fully let to top names in national and international industry.

“The completion of Arterial Industrial Estate’s Phase 2, and the good demand and take-up of available space it is experiencing, underscores the value we provide to businesses seeking efficient and sustainable industrial real estate solutions,” says Wouter de Vos, Growthpoint’s Regional Head: Western Cape.

“Growthpoint is reporting strong performance in its logistics and industrial portfolio, fuelled by high occupancy rates and a strategic focus on modern facilities. Our well-let logistics and industrial portfolio demonstrates the increasing demand for modern, strategically located facilities,” says Errol Taylor, Growthpoint’s Head of Asset Management, Logistics and Industrial Property.

Arterial Industrial Estate is strategically positioned in Blackheath, a popular industrial hub in Cape Town, offering exceptional access to key transportation routes, including the R300, N1, and N2 highways, as well as Cape Town International Airport and the region’s seaports. This prime location allows businesses to efficiently connect with both local and global markets.

The estate offers 24-hour security, flexible warehouse and office space, and a commitment to sustainability, including solar panels and a four-star Green Star certification from the Green Building Council of South Africa.

“This project reflects a continued and deliberate pivot toward better-performing, future-fit logistics assets and aligns with Growthpoint’s strategy of targeted investment and divestment, and development,” adds Taylor.

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Growthpoint Properties Limited (JSE: GRT) delivered stronger-than-expected results for its six-month interim period ending 31 December 2024, reporting distributable income per share (DIPS) of 74.0cps, up 3.9% from HY24, while maintaining its distribution payout ratio at 82.5%.

In line with the first-half performance, Growthpoint upgraded its DIPS guidance for the financial year ending 30 June 2025 from -2% to -5% to positive growth of 1% to 3%, which will be driven mainly by the continued improvement in the operational performance of the South African (SA) portfolio, better finance cost expectations and continued outperformance from the V&A Waterfront. The stronger performance evident in the half-year results will moderate slightly for the full year.

Norbert Sasse, Group CEO of Growthpoint Properties, comments, “Growthpoint has done well to deliver strong results while effectively executing our strategic priorities, streamlining international investments through the disposal of Capital & Regional pls C&R) and further strengthening our SA portfolio. This progress was reflected in the improved performance of the SA portfolio. Additionally, disciplined treasury management kept finance costs below expectations, stringent cost control enhanced efficiency, and again, the V&A Waterfront outperformed.”

Financial Performance

Growthpoint delivered solid results despite ongoing macroeconomic pressures. The total dividend per share (DPS) for HY25 is 61.0cps, a 3.7% increase from HY24. Total property assets stand at R155.2bn, reflecting a decline of 11.2% during the six months, mainly due to the strategic disposal of C&R to optimise the international investment portfolio.

The Group SA REIT loan-to-value (LTV) ratio decreased to 40.8% from 42.3% at FY24, mainly due to the disposal of C&R. The interest cover ratio (ICR) was unchanged at 2.4x. Growthpoint retains strong liquidity, with R0.8bn in cash and R5.2bn in unutilised committed debt facilities and enjoys excellent access to funding at attractive margins. Increased finance costs in SA, stemming from higher average borrowings compared to HY24, were offset by a lower weighted average cost of debt in HY25 of 9.2% (HY24: 9.6%).

“Interest rate pressures have started to ease, although the pace of future reductions is still unclear. Growthpoint remains committed to balance sheet resilience for the long term, underpinning our ongoing access to competitive funding and maintaining financial flexibility,” notes Sasse.

Strategic Priorities

Growthpoint has a diversified portfolio and defensive income streams. It successfully advanced the company’s strategic initiatives during the period aimed at improving the quality of its SA portfolio, including enhancing sustainability initiatives across its core assets toward the goal of carbon neutrality by 2050, and optimising its international investments.

Improving the quality of its directly held SA portfolio of logistics and industrial, office and retail properties, Growthpoint is focused on disposals, developments and targeted investments. Over the past decade, it has trimmed asset numbers in the portfolio by 28%, from 471 to 341, reducing gross lettable area by 14.7%, thereby improving the quality of its portfolio and income streams. In HY25, Growthpoint disposed of a dozen properties for R589.4m at a R7.4m profit to book value and invested R945.4m in development and capital expenditure.

As a result of its portfolio enhancement since FY15, Growthpoint has strategically grown its logistics and industrial assets from 15% to 20% of the total SA portfolio value while increasing its exposure to modern logistics warehouses and better performing nodes. It also reduced its office exposure to 40% from 46% of portfolio value, enhancing quality by selling B- and C-grade assets. Retail property assets stayed stable at 39% of the total portfolio value, even while disposing of assets that are below Growthpoint’s optimum size or in deteriorating central business districts. Growthpoint has invested in extensive redevelopments and upgrades at all its long-hold shopping centres.

Optimising its international investments, Growthpoint’s group-wide strategic and capital allocation review to simplify its business and focus on core assets resulted in it disposing of its entire shareholding in C&R to NewRiver REIT (NRR), effective 10 December 2024. The transaction proceeds of 62.5pps, split between 31.25pps (R1.16bn) cash and 31.25pps equivalent in NRR shares, resulted in Growthpoint taking a R1.22bn or 14.2% investment in NRR. Growthpoint used the cash proceeds to settle debt.

Growthpoint continues to evaluate all options to maximise the value of its investment in NRR as well as for its 29.6% investment in Globalworth Real Estate Investments (GWI), where Growthpoint continues to support management at a shareholder level with value unlock initiatives.

Its 63.7% investment in Growthpoint Properties Australia (GOZ) remains a core investment for Growthpoint.

Growthpoint owns 37.5% of Lango Real Estate Management Limited valued at R341.0m. Lango has however internalised its asset management function at an expense of USD60.3m and Growthpoint will receive preference shares equivalent to the value of its investment. In addition, Lango has been redomiciled to the UK. Growthpoint’s 15.8% investment in Lango UK is now classified as an international investment, and it is no longer included in Growthpoint Investment Partners (GIP).

South African Portfolio

In SA, Growthpoint owns and manages a R67.3bn diversified core portfolio of retail, office, logistics and industrial, and trading and development properties, representing 50.8% of Growthpoint’s total asset book value. This portfolio contributed 50.1% of DIPS.

The SA business enjoyed an improved contribution from all three sectors, including like-for-like rental growth, lower negative rent reversions, occupancy gains in the logistics and industrial portfolio and improved expense efficiencies and recoveries.

For the three sectors, gross property income increased by R98.0m, while expenses declined by R68.0m, driving a R166.0m or 6.2% uplift in net property income (NPI). Reduced loadshedding lowered expenses, especially in the office portfolio, and together with stringent cost management, decreased the SA business’s total expense ratio to 35.4% (HY24: 37.8%).

Comparing HY25 to HY24, the SA portfolio saw further occupancy gains, reducing vacancy rates from 9.2% to 8.3%, while rental renewal growth continued an encouraging trend, moving from -7.1% to -1.8%. The combination of higher occupancy and improving rental renewal growth propelled like-for-like NPI growth from negative 0.1% to an impressive positive 6.8%.

The overall improvement in property metrics was positive for SA property values, which increased 1.4% in the six months, driven by Growthpoint’s portfolio improvements and more favourable market conditions. Growthpoint’s Cape Town and KwaZulu-Natal portfolios are outperforming across all three sectors.

The SA logistics and industrial portfolio is well let, with a low vacancy rate of 3.5% (FY24: 5.2%). Its latest speculative developments at Phase 1 of Arterial Industrial Estate and Centralpoint in Samrand, where 9,541sqm was leased post reporting date, are now both fully let. Portfolio improvements and better overall sector dynamics saw like-for-like NPI grow 3.5% during the six months. Property valuations increased 1.5%. Renewal rental growth entered positive territory, lifting from -3.3% at FY24 to 0.9% over the six months.

Modern logistics properties make up around half of this portfolio’s gross lettable area, and this is increasing with new speculative developments such as the 21,831sqm Phase 2 of Arterial Industrial Estate. Two of the six units in this phase, where construction is nearing completion, are already let.

The SA retail property portfolio like-for-like NPI increased by 6.1% over the six months, reflecting improved overall portfolio quality, constant letting, a higher renewal growth rate and more effective recoveries for on-site solar electricity. The portfolio value increased by 1.4% during the period. Its core vacancy is a low 4.4% (FY24: 4.0%). Growthpoint’s shopping centres achieved strong trading density growth of 3.8% (FY24: 4.1%) and increasing shopper footfalls.

The key redevelopment of Bayside Mall was completed as planned. Growthpoint installed solar photovoltaic panels at seven shopping centres in the six months. Additionally, the R113m redevelopment and upgrade of Beacon Bay is on track for completion in June 2025. At Watercrest Mall, the introduction of a new Shoprite and relocation of Checkers is in progress. Growthpoint is actively exploring and finding solutions for stubborn retail vacancies, and, during the period, it agreed to sell Golden Acre and pivoted the retail mix at Northgate by introducing Shoprite as a new anchor to open in April 2025 and identified a portion of the mall for subdivision and sale. It successfully reduced vacancies at Brooklyn Mall and is contemplating various solutions for the remaining 9,300sqm of vacancy, which is mainly in the offices and two deep stores.

The SA office property portfolio continued to benefit from the sector’s recovery. Like-for-like NPI increased 9.4%, driven by consistent letting and an improved renewal growth rate, which moved up from -14.8% to -6.9% during the half year. Less loadshedding, efficient management of expenses and good recoveries were also positive factors. Stabilised portfolio vacancy levels stayed within the 15% range at 15.9% (FY24: 15.1%). Gauteng represents 72.1% of office portfolio GLA, which showed marginally decreased vacancies at 19.1% (FY24: 19.3%). The office portfolio printed a 1.3% increase in value.

Growthpoint completed the 154-room Canopy by Hilton hotel in its Longkloof mixed-use precinct in Cape Town, where it is also progressing the net-zero carbon redevelopment at 36 Hans Strydom for Ninety One under a 15-year lease for completion in July 2025.

Sustainability highlights achievedduring the period include Growthpoint’s Meadowbrook Estate facility for Serra becoming SA’s first industrial property to earn a prestigious 6-Star Green Star Existing Building Performance (EBP) rating from the Green Building Council South Africa (GBCSA), setting a new benchmark for logistics and industrial properties. The company’s installed solar capacity reached 52.46MWp (HY24: 40.7MWp), already exceeding its FY25 target of 50MWp, and its milestone Power Purchase Agreement (PPA) for 195GWh of renewable, green electricity will begin powering its revolutionary e-co₂ solution at 10 Sandton office buildings in FY26, after nearly two years of innovation and preparation. The e-co₂ scheme provides Growthpoint tenants access to wheeled renewable hydro, wind and solar electricity at cost-saving fixed escalations while reducing carbon emissions and generating tradeable carbon credits.

SA Trading & Development earned R48.9m (HY24: R20.3m) of trading profits and R5.4m (HY24: R4.0m) of NPI, but no development fees (HY24: R8.0m). Growthpoint’s in-house Trading & Development division develops assets for its own balance sheet as well as for third parties and GIP.

The V&A Waterfront

Growthpoint’s 50% interest in the V&A Waterfront in Cape Town has a property value of R12.4bn, which makes up 9.3% of Growthpoint’s total asset book value and contributed 15.8% to DIPS. Once again, the V&A delivered stellar returns, benefiting from increased tourism and retail activity. Like-for-like NPI rose 16.6% for the six months, with the precinct being fully let. It successfully opened the repurposed Union Castle Building in December 2024. Major projects remain on track, including the Table Bay Hotel’s conversion to the Intercontinental Table Bay Cape Town and the fully let luxury retail wing at Victoria Warf.

The V&A’s hotel, residential and leisure NPI increased by 37%. With the addition of The Commodore Hotel and The Portswood Hotel, the V&A now has three hotels (587 keys) operating under management agreements. Income from hospitality businesses, where the V&A enjoys both the rewards and risks of the operating business as opposed to pure rental, increased to 17% of operating profit earned, up from 10% in HY24.

Growthpoint Investment Partners

Growthpoint’s alternative real estate co-investment platform, GIP, is 1.9% of Growthpoint’s total asset book value and contributed 3.6% to DIPS. It now includes two funds distinct from Growthpoint’s core assets. They are Growthpoint Student Accommodation Holdings, operating under the Thrive Student Living brand, and Growthpoint Healthcare Property Holdings. GIP closed the period with R8.4bn of assets under management, split equally between SA healthcare and student accommodation.

International Investments

Growthpoint continues to optimise its international investment. On 31 December 2024, 37.9% of property assets by book value were located offshore, and 30.5% of its DIPS was generated offshore. Foreign currency income of R769.0m remained at a similar level toHY24.

GOZ, which invests in high-quality industrial and office properties in Australia, accounts for 23.8% of Growthpoint’s total assets by book value and contributed 21.2% to its HY25 DIPS. Despite increasing its payout ratio from 79.8% (HY24) to 95.2%, GOZ’s distribution decreased from AUD9.65cps (HY24) to AUD9.1cps. An additional AUD2.1cps was distributed to compensate for the increased dividend withholding tax, which nearly doubled from 9.8% (HY24) to 18.3%. Growthpoint received a R533.2m net distribution from GOZ (HY24: R551.2m).

GOZ maintained its strong balance sheet and reduced its gearing from 40.7% to 39.7%. The directly owned GOZ portfolio performed well, with occupancy remaining high at 94% (FY24: 95%) and a 6.0-year weighted average lease expiry. The period marked numerous strategic capital highlights for GOZ, including divesting its non-core holding in Dexus Industria REIT for AUD131.7m and establishing the AUD198 million Growthpoint Australia Logistics Partnership (GALP) with TPG Angelo Gordon holding 80%. GOZ also launched the Growthpoint Canberra Office Trust (GCOT), which acquired a AUD90 million high-yielding, primarily government-leased, A-Grade office building in Canberra’s CBD. As a result, GOZ’s funds management business enjoyed strong momentum over the six months.

GWI, which invests in offices and mixed-use precincts in Poland and in Romania where it also develops logistics parks, represents 11.3% of Growthpoint’s total assets by book value and a 5.1% contribution to DIPS. GWI’s dividend of EUR7.5cps (R129.1m) for HY25 was 31.8% down from 11.0cps (HY24: R146.1m), negatively impacted by higher interest rates on its Eurobond refinance, which is also expected to soften Growthpoint’s dividend income from this investment for the full year. GWI maintained a strong balance sheet with gearing at 38.1%.

GWI achieved like-for-like NPI growth of 7.0%, with portfolio vacancies reducing to 13.3% (FY24: 13.8%). Disposing its 50% share in the joint venture industrial portfolio was the main factor contributing to the 5.4% portfolio value decrease to EUR2.6bn. GWI continues to invest in its portfolio, including its current refurbishment of the 48,000sqm Renoma mixed-use property in Poland. It completed and leased 5,900sqm of the Craiova Logistics Hub in the period.

NRR, which invests in retail properties in the UK and which Growthpoint acquired as part of its C&R disposal, accounts for 0.9% of Growthpoint’s total assets by book value and with C&R contributed 3.8% to its HY24 DIPS. NRR declared a dividend of 3.0pps, translating to R38.8m for Growthpoint for the six months ended September 2024. In addition, R57.0m funds from operations from C&R to 10 December 2024 are included in the distributable income.

Lango, which invests in prime commercial real estate assets in key gateway cities across the African continent (excl. SA), accounts for 1.9% of Growthpoint’s total assets by book value and made a 0.4% contribution to DIPS. In HY25, Lango finalised the acquisition of USD200m of assets from Hyprop Investments Limited and Attacq Limited, and Growthpoint received R11.0m dividend income from Lango.

Looking Ahead

Growthpoint’s SA portfolio has stabilised, with key metrics improving across all three sectors.

“We continue to see positive momentum across the portfolio, underpinned by operational resilience and strategic execution. This is supported by the improved sentiment in the country under the Government of National Unity, along with the improving interest rate environment,” says Sasse.

Growthpoint aims to execute R2.8bn in strategic non-core SA asset sales for the full financial year, further improving the quality and sustainability of its property income, albeit at a lower overall quantum. Despite temporary closures in some areas due to major projects underway, the V&A Waterfront is on track for mid-single-digit growth for the full year. The reduction in finance costs will continue to benefit the business going forward.

On the international front, elevated capital costs, both domestically and globally, continue to constrain investment growth.

“As interest rates ease and economic conditions improve, we remain well-positioned to drive long-term value for our stakeholders,” concludes Sasse.

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Olympus Sandton is being developed by Growthpoint Properties (JSE: GRT), South Africa’s leading real estate investment trust (REIT), in partnership with Tricolt, a premier developer specialising in high-end residential projects. It is the latest development in Sandton Summit, where Growthpoint is shaping its vision to create South Africa’s premier walkable mixed-use precinct. At the high-profile junction of Sandton/Katherine Drive and Rivonia Road, Sandton Summit is anchored by Discovery’s iconic head office building (co-owned by Growthpoint 55% and Zenprop 45%). Adjacent to this landmark, along Rivonia Road, the Olympus Sandton high-rise residential development will elevate fine living in vibrant Sandton, setting a new benchmark with 512 state-of-the-art apartments across its two towers.

The development’s first 24-storey residential tower, The Athena, is nearly sold out with 227 of its 288 apartments already secured by eager buyers.

Tim Kloeck, Chairman of Tricolt reports, “Olympus Sandton sales are exceeding all expectations. In response to the overwhelming demand, we are pleased to announce the immediate release of apartments for sale in the second tower, The Apollo. Tricolt brings its expertise in world-class residential living to this landmark project.”

The first 68 of The Apollo’s 224 apartments were snapped up swiftly on release.

Neil Schloss, Head of Asset Management: South Africa at Growthpoint Properties, adds, “The exceptional sales momentum has accelerated the Olympus Sandton development timeline, and we can confirm that construction of both towers should commence in the latter part of 2025 and early 2026. The development’s sales success exemplifies Growthpoint’s strategic approach to unlocking maximum value from prime real estate assets through strategic, market-aligned development and partnerships.”

Kent Gush from Kent Gush Properties states, “I have been selling property for 40 years in Sandton and Olympus has been the most incredible success story of my career.”

Olympus Sandton offers a variety of premium residences, with prices ranging from R1.49 million to R7.2 million for studios and one- and two-bedroom apartments. Penthouses are available from R14 million to R45 million.

The sales team notes that buyers report Olympus Sandton’s most compelling features are its prime position in vibrant Sandton Summit, offering effortless connectivity, premier amenities and a dynamic neighbourhood. Also enticing buyers is Olympus Sandton’s 360-degree skyline splendour with unmatched views across Johannesburg from the 24-storey tower, which will become the highest point in Sandton. Olympus Sandton’s elevated dining from Marble Hospitality Group, served with the breathtaking panoramas from around The Athena’s entire 18^th floor, is a distinctive drawcard, as is the next-level ground-floor curated fancy foodie grocery experience from Pantry by Marble.

Beyond location and lifestyle, Olympus Sandton is a design icon — a landmark envisioned by award-winning Architects Clark Hopkins Clark. With cutting-edge, eco-friendly design, it redefines green luxury, offering smart, sustainable living at its finest.

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The precinct redevelopment was thoughtfully curated by Growthpoint, South Africa’s leading real estate investment trust (REIT), in a heritage-led project to inject new life into the Longkloof Precinct. The multifaceted project involved the renovation of several Growthpoint-owned buildings and the creation of an attractive public square at their heart, which connects to the city via four different access routes.

“Growthpoint’s vision was to reimagine six buildings — made up of a historical school and an industrial building with its boiler room — and a vacant parking lot as a hip and vibrant mixed-use precinct that embodies Cape Town’s essence in something new and exciting, yet respectful of its heritage,” says Wouter de Vos, Growthpoint’s Regional Head: Western Cape.

This flagship precinct exemplifies Growthpoint’s commitment to enhancing the city’s built environment​ through urban renewal with quality assets. Its low vacancy rate, below 2%, reflects its desirability in Cape Town’s thriving real estate market.

Work on the precinct began in 2019 after several years of painstaking planning and most elements were completed by 2021. The 21,164sqm multi-use property has become a desirable address for innovative, creative and entrepreneurial businesses. Major office tenants include Travelstart, Mushroom Media and Workshop17. Longkloof is also the fifth Cape Town location of WorkAgility, Growthpoint’s pioneering agile ready-to-occupy office concept, which eliminates traditional office costs and complexity and can be secured for periods as short as one year.

The final hospitality and retail elements were originally planned to open in 2021 but were delayed by the Covid-19 lockdowns and the subsequent period of global and local uncertainty, and now complete and are coming to life around the precinct.

“Five years after the start of the pandemic, the resilience of the Cape Town market is undeniable, with an upswing in international tourism since mid-2023, together with ongoing ‘semigration’ from other parts of South Africa to the Western Cape,” highlights de Vos.

The 154-room Canopy by Hilton Cape Town Longkloof Hotel is the first of its kind in Africa and incorporates the façade of the former MLT House, the structure of which has been carefully preserved and integrated into the new design. The hotel entrance leads from Longkloof’s public open square – Longkloof Square – with newly curated retail and social spaces that enhance the precinct’s connectivity and community focus.

De Vos says the hotel is the perfect complement to the mix of uses and tenancies in the Longkloof precinct. “We are proud to welcome Canopy by Hilton to South Africa, which brings fresh, dynamic energy to the city’s hospitality scene, and captures the character, culture and creative charm of its location.”

This thoughtfully designed Canopy by Hilton Cape Town Longkloof hotel blends upscale comfort with the charm of Cape Town’s rich cultural tapestry, featuring custom art pieces that reflect the neighbourhood’s creative spirit, articulated in a Cape Malay colour palette, and inspired by fynbos, the ocean and nearby Bo-Kaap on different floors. With its prime Longkloof location, historical setting, and deep connection to local culture, the precinct offers seamless access to major landmarks and public transport, while the hotel delivers everything you expect from Canopy by Hilton—authentic connections, stylish design, and a vibrant social atmosphere.

Andreas Lackner, Vice President Operations, Africa & Indian Ocean, Hilton, says, “We are delighted to start welcoming guests to the much-anticipated Canopy by Hilton Cape Town Longkloof and are proud to be the centrepiece of the iconic precinct. We congratulate our partners at Growthpoint for completing the development of Longkloof, revitalising the historic precinct with this world-class hotel, an attractive public square and more. The neighbourhood is set to be a destination in its own right, and we are pleased to be at the heart of it.”

Growthpoint has devoted specific attention to ensuring the right retail mix for the precinct, with only a few signs left to hang above its restaurant windows and storefronts. “In keeping with the intention to ensure that Longkloof Square is a destination and meeting point for the local community, we have sought out a mix of food and fashion that is unique to Cape Town. The retail premises are deliberately tailored to create a boutique environment with diversity and interest and will open over the next two months, and we’re excited to share these details soon,” says de Vos.

The retail is on ground level fronting Park Road, extending into Summit Lane and spilling into the square. Each shopfront expresses the identity of its occupant through a mix of timber finishes and different window choices, adding to the charm of the precinct’s distinctive red-brick facades and quirky industrial interiors.

Not all developments can be done with this degree of time and patience, but a heritage-focused project of this nature is an exception. “There is certain value in more difficult developments,” says Neil Schloss, Growthpoint’s Head of Asset Management SA. “The fact that they are hard to do, and there are few property investors who have the capacity to take them on, gives them scarcity and, given the right project, this creates greater value.”

“We are extremely pleased with what has been achieved with the redevelopment of the historic Longkloof precinct and we fully believe that it enhances its surrounds and the city, as well as the Growthpoint portfolio of property assets,” he continues. “This is a new gem to be discovered in Cape Town and aligns perfectly with Growthpoint’s strategy of creating assets that have value and growing relevance into the future.”

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Growthpoint Properties Limited (JSE: GRT), South Africa’s leading real estate investment trust (REIT), today announced it is commencing a landmark residential and retail development, Olympus Sandton, in partnership with leading luxury residential developer Tricolt.

Olympus Sandton will be situated in the mixed-use Sandton Summit precinct, anchored by the Discovery Head Office on the corner of Rivonia Road, where Katherine Street becomes Sandton Drive. This strategic investment aligns with Growthpoint’s vision to create South Africa’s premier walkable mixed-use precinct, capitalising on Sandton’s status as Africa’s leading financial district.

Growthpoint has been rolling out different elements of the Sandton Summit vision for over a decade now, and Olympus Sandton is its first development positioned to capture the increased demand for residential property in Sandton Central.

The R2bn-plus Olympus Sandton development will comprise two towers. The first residential tower of 26 storeys will be the first phase of the development along Rivonia Road. It will include a premium dining experience from Marble Hospitality Group on one of the tower’s upper floors, as well as its extraordinary Pantry convenience retail offering in Grade-A ground floor retail space. The second phase is a tower of at least 16 storeys, located east of the first.

The sale of the development’s more than 400 residential apartments by Tricolt has commenced and will launch to the public on 27 February 2025, with prices starting from R1.49 million. Together Growthpoint and Tricolt will retain ownership of the two retail sections of the tower. Construction of Olympus Sandton is estimated to start in the latter half of 2025.

Sandton Summit is situated at the crest of Sandton Ridge, which is the highpoint of the area. Olympus Sandton’s 26-storey tower, although not the tallest building in the area, will become the highest in Sandton, offering unmatched views across Johannesburg and beyond.

Neil Schloss, Head of Asset Management South Africa at Growthpoint Properties, says: “We believe that commencing the Olympus Sandton development is well-timed for the reawakening of the powerhouse that is Sandton Central, and aligned with its accelerated transformation into a vibrant neighbourhood as it evolves with the trend of people wanting to live closer to workplaces and amenities, to offer an exceptional mix of residential, office, retail and other types of properties.”

Timothy Irvine, Growthpoint’s Head of Asset Management for Offices, adds, “Sandton is experiencing a significant revival. After years of office downsizing, companies are now maintaining their physical presence and even starting to grow it again as return-to-office becomes standard practice. Vacancy rates in Growthpoint’s office portfolio are declining nationwide, with Sandton — the country’s cosmopolitan business capital — showing the start of a particularly promising recovery. Despite a slow initial post-pandemic resurgence, the district is adapting not only its office spaces to meet growing demand but its entire lifestyle, with more living and gathering spaces.”

Growthpoint is among those leading Sandton Central into an even more vibrant future. Taking advantage of other opportunities arising from increased demand for residential property in Sandton Central, in line with the trend of living closer to offices, Growthpoint also recently sold its 151 on 5th building in Sandton to a residential developer. Growthpoint is also investing in taking Sandton into a new green era with its revolutionary e-co₂ solution launching at 10 Sandton office buildings in mid-2025. The e-co₂ scheme will provide tenants with access to wheeled renewable hydro, wind and solar electricity at fixed escalations, sharing the benefits of Growthpoint’s milestone Power Purchase Agreement (PPA) for renewable energy, with which it secured 195GWh of green power.

This is one of several projects Growthpoint is undertaking that will make Sandton Central even more friendly for people, businesses and the environment.

Olympus Sandton’s striking and innovative design matches its prominent position on the Sandton skyline. It was created through collaboration between Australian architectural practice ClarkeHopkinsClarke (CHC) and one of South Africa’s foremost architectural studios, dhk Architects, and will be developed jointly by Growthpoint and Tricolt – all award-winning leaders in their fields.

Growthpoint’s development team has an established record of excellence in investment-grade commercial property development, which also extends to a signature range of residential developments. This includes its Riverwoods office-to-residential conversion to BlackBrick Bedford, various award-winning purpose-built student accommodation developments, and its recently completed major residential development, the fully sold-out The Kent, La Lucia, in KwaZulu-Natal.

The design of Olympus Sandton incorporates advanced sustainable building practices, including post-tension slabs and smart energy management systems, aligning with Growthpoint’s environmental, social and governance (ESG) commitments, including its 2050 carbon-neutral goal. The Olympus Sandton development will target at least a 4-Star Green Star rating from the Green Building Council of South Africa (GBCSA).

“Pedestrianised mixed-use precincts have tremendous environmental benefits, particularly when they are so well located, by reducing carbon emissions as a result of less private vehicle travel and traffic. Olympus Sandton is the next step in bringing our vision for Sandton Summit to life and delivers on our commitment to creating sustainable developments that deliver exceptional amenities for their uses and long-term value for our stakeholders,” says Schloss.

The best-known mixed-use asset in Growthpoint’s investment portfolio is the iconic V&A Waterfront, of which Growthpoint is a 50% owner. It also owns several other precincts and parks in its South African portfolio, such as the Longkloof precinct in Cape Town’s vibrant Kloof Street area of Gardens. Spanning 21,164sqm, this multi-use property has become a sought-after address for innovative, creative and entrepreneurial businesses, alongside the 154-room Canopy by Hilton hotel, the first in South Africa, which is set to open in late January 2025. In the vibrant Umhlanga Ridge New Town Centre, its three Green Star-rated office developments – Lincoln On The Lake, Mayfair On The Lake and The Boulevard – all offer a mix of P-grade office accommodation, ground floor retail and basement parking linked by a central landscaped courtyard with pedestrian access, and overlooking the gardens of a local park.

“Olympus Sandton exemplifies Growthpoint’s strategic approach to unlocking maximum value from prime real estate assets through thoughtful market-aligned development that improves our portfolio and progresses our sustainability goals,” notes Schloss.

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In an environmentally innovative achievement, the Serra® facility, owned by Growthpoint Properties (JSE: GRT), has become South Africa’s first industrial property to earn a prestigious 6-Star Green Star Existing Building Performance (EBP) rating from the Green Building Council South Africa (GBCSA), setting a new benchmark for logistics and industrial properties.

Located in Meadowbrook, Germiston, the 7,400sqm light manufacturing facility has consistently been an example of a strong commitment to leading green building standards. In 2020, it was awarded a 5-Star Green Star EBP rating, marking the first time an industrial building in Gauteng had achieved this certification.

The new 6-star rating recognises an ongoing sustainability journey. Underpinning the achievement are Growthpoint’s 15 years of recognised green building leadership and Serra®’s 40 years of experience in the commercial washroom industry, resulting in a deep focus on water efficiency and conservation at the property. This powerful partnership also earned the building the 2024 GBCSA Leadership Awards for theHighest Rated Building (EBP), with accredited professional Danika Taylor of Imbue Sustainability also playing a key role in achieving this milestone certification.

The building boasts several cutting-edge features that contribute to its impressive green credentials. The entire facility is 100% off the grid. It features solar PV energy generation and waste management, including recycling.

Yet it shines brightest in its positive impact on water resilience – the heart of sustainability. The property features substantial rainwater harvesting, including a petrol/oil separation system for water recycling, a water purification plant, and an underground water reservoir about the size of an Olympic swimming pool. This is particularly significant given the current water scarcity concerns in South Africa, especially the diminishing water security in the Gauteng region.

The alignment between Growthpoint and Serra® in their environmental commitments makes this property a standout example of cooperation between a property owner and occupier, especially when both are leaders in environmentally sustainable practices in their respective sectors.

Growthpoint’s goal is to be carbon neutral by 2050. Its progress includes 123 current green building certifications and securing access to a rapidly growing reliable mix of renewable energy sources – electricity from water, on-site and remote solar, and wind – for tenants to access through its e-co2 benefit scheme, being the first of its kind in South Africa. Thanks to a PPA with Etana Energy, Growthpoint will begin wheeling 195 GWh/y of renewable energy to select buildings starting from July 2025, which represents 32% of its total electricity consumption and demonstrates its commitment to innovative, scalable energy management.

These and other sustainable business practices not only move Growthpoint closer to its ESG (Environmental, Social, and Governance) targets but also help tenant businesses towards their own ESG goals.

As a proudly South African family-run business with a strong passion for ESG principles, Serra® is wholly invested in sustainable green practices and has voluntarily pursued rigorous sustainability certifications. This goes well beyond its manufacturing and showroom facility. Serra® has made substantial investments in developing sustainable products and practices. For instance, it supplies floor covering and mats from recycled fishing lines recovered from the ocean. It is aiming for Net Zero emissions.

Paul Thomaz, CEO of the Serra® Group (Pty) Ltd, comments, “Our business is dedicated to creating a positive impact on the environment and communities we serve. Working with Growthpoint to achieve the 6 Star Green Star reinforces our long-term vision of minimising harm and promoting sustainable practices throughout our operations and product offerings.”

The Serra® building’s 6 Star Green Star EB rating sets a new benchmark for logistics and industrial properties in South Africa. It continues Growthpoint’s pioneering approach to green logistics and industrial buildings in South Africa. The company jointly developed the GBCSA’s certification tool for industrial facilities in a progressive move that enabled more building types to be certified green. It was also awarded South Africa’s first-ever Green Star SA rating for industrial property, for Greenfield Industrial Estate in Cape Town.

Errol Taylor, Growthpoint’s Head of Asset Management: Logistics & Industrial Property, says, “Growthpoint is committed to providing relevant spaces that support occupants while addressing key global and local efforts in response to environmental concerns. We are incredibly proud of this achievement and the strong partnership with Serra® that has made it possible.”

The environmental commitment of both businesses is being put into action in other ways too.

As a leading hygiene services provider and washroom accessory manufacturer, Serra®’s commitment to environmental responsibility extends to its service agreements, and the company currently services around 90 of Growthpoint’s Johannesburg buildings. This not only benefits Growthpoint as the owner but also enhances the experience of the tenants.

The 6-Star Green Star rating for the Serra® building underscores the growing importance of certified green credentials. As businesses increasingly prioritise ESG considerations, buildings that can demonstrate exceptional operational performance are increasingly attractive to tenants and investors.

For Growthpoint, the Serra® building’s new rating is a testament to the value and impact of its green initiatives. The company continues to explore and collaborate on opportunities to enhance the sustainability of its portfolio, creating properties that benefit both the environment and those who occupy them.

For Serra®, its manufacturing and showroom facilities serve as a living inspiration for environmental sustainability, and it welcomes designers, facility managers, property developers and built environment professionals to visit the property to encourage greater green building excellence.

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The 2024 Greenovate Awards have once again highlighted the remarkable ingenuity of South African university students in developing sustainable solutions for the built environment. This annual competition, a partnership between Growthpoint Properties (JSE: GRT) and the Green Building Council of South Africa (GBCSA), challenges students to address real-world obstacles in property and engineering with cutting-edge green thinking.

This year’s awards saw 23 students from eight universities participate, submitting projects that ranged from finding new uses for manganese mining by-products in construction materials to keeping buildings cool inside with biomimicry, the circular economy potential in the construction industry and even making 3D printing more environmentally sustainable. The winners were announced at a gala dinner held at The Galleria in Sandton.

In the engineering category, North-West University received top honours for a project on compact filament production for 3D printing. University of Cape Town (UCT) claimed second place with a project on termite-mound-inspired energy-saving building design, and Stellenbosch University took third with a solution that reduces traffic in the town.

The Property category saw Nelson Mandela University win the top spot with the project on carbon management implementation for quantity surveying professional practice and University of Pretoria took second for exploring the role manganese mining by-products can play in sustainable property development. Two UCT teams took joint took third place with their focus on the impacts of green building certification on different aspects of real estate.

The International Finance Corporation (IFC) Excellence in Design for Greater Efficiency (EDGE) Award was presented to Nosipho Hadebe and Masego Mngomezulu from University of Pretoria for their work on how timber construction in extreme conditions and remote locations impacts indoor air quality.

“In an industry with tremendous power for positive environmental impact that is seeking sustainability solutions, the creativity and passion of these students shines through,” says Engelbert Binedell, Chief Operating Officer of Growthpoint Properties. “Greenovate isn’t just an awards programme – it’s a catalyst, introducing top young talent to cutting-edge sustainability concepts and connecting them with industry visionaries. This is more than career development; Greenovate expands South Africa’ green talent pool for Growthpoint, the property sector, the green building movement and country as a whole. The future of sustainable development starts here.”

“The Green Building Council South Africa is consistently proud to partner with Growthpoint in the Greenovate competition and awards. But more than that, we enjoy our participation as mentors and judges and being part of the celebration during the awards event. The students inspire us with their vision, enthusiasm and innovation. Greenovate is indeed a catalyst towards the actualisation of green jobs in an innovative green economy within the built environment,” says Lisa Reynolds CEO, GBCSA.

Prizes to advance planet purpose

The top three winners of both categories received a share of R142,000 in total prize money, and the Greenovate. Additional prizes included EDGE training and certification and tickets to the GBCSA Convention, which includes opportunities to present and showcase winning solutions.

Advantageously, participants get access to valuable mentorship, networking opportunities and expert-led workshops. They gain access to knowledge and resources needed to turn their research into practical products or services for the property industry. This experience fosters lasting networks and partnerships among participants.

Mentorship from market leaders

This year’s mentors for the property stream included Marlene Senne and Abigail Godsell of GBCSA, Iphendule Ndzipho and Hlologelo Manthose of WSP, Wardah Peters of Solid Green Consulting, Mapula Matlakala of African Bank, and Siphesihle Mankahla of EPMO. Engineering stream mentors included Alex Varughese of GBCSA, Mary Anne Fetcher of Zutari, Makhosazana Mthethwa and Thato Molapo of Solid Green Consulting, Tumanga Qholosha of Blackstone Design Consulting, and Kutlwano Dikgwatlhe of Joburg Water.

A panel of change-making judges

The 2024 judges for the property category included Tsholofelo Makgwa of the City of Tshwane, Jennifer Lombard of GBCSA, Kushinga Kambarami of IFC, Adrie Fourie of Solid Green and Brian Unsted of Liberty2Degrees. Judges for the engineering category included Mike Aldous of MPAMOT, Dash Coville of GBCSA, Werner van Antwerpen of Growthpoint Properties, Mischa Tessendorf of Attacq Limited.

The innovating, planet-shaping 2024 Greenovate Student Awards winners:

ENGINEERING WINNERS:

1st – Leon Uys, North-West University: Compact filament production plant for sustainable 3D printing.

2nd – Jacqui Hully, University of Cape Town: Thermal design and analysis of termite-mound-inspired energy saving buildings.

3rd – Sebastiaan Whitward, Stellenbosch University: An optimist’s solution to Stellenbosch’s high influx of commuters.

PROPERTY WINNERS:

1st – Dylan Minaar, Nelson Mandela University: Exploring carbon management implementation for quantity surveying professional practice in South Africa.

2nd – Liam Galloti and Neil Johnston, University of Pretoria: Exploring sustainable housing solutions in Hotazel using mining by-products.

3rd – Oratile Masia and Mihlali Solombela, University of Cape Town: An examination of the impact of green certification on valuation variables and office real estate valuation determination.

3rd – Paige Waberski and Kiah Wallace, University of Cape Town: The investigation into the impact of the Green Star Existing Building Performance (EBP) tool on the office real estate sector in South Africa.

IFC EDGE PRIZE – Nosipho Hadebe Masego Mngomezulu, University of Pretoria: Indoor environmental quality improvement through timber construction in extreme environments and remote locations.

Students from all South African universities are invited to participate in the Greenovate Awards and can register at https://www.greenovatecompetition.co.za/register/

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Thrive Student Living has started its largest student accommodation development yet. Representing a significant R800 million investment, the new purpose-built student accommodation development has commenced immediately adjacent to the main gate of the Howard College Campus of University of KwaZulu-Natal in Berea, eThekwini.

Undertaken by Growthpoint Properties’ specialist development division, the project will add 2,400 student beds in the region, which research shows has the biggest shortage of student beds in South Africa.

“Proprietary research commissioned by our team revealed that KZN remains undersupplied with student beds,” says Kobus Blom, Growthpoint’s KwaZulu-Natal Regional Development Manager. “The province has significant demand, and most students live in environments that are not conducive to student outcomes.”

In response to this need, Growthpoint has commenced the two-year development programme for the new building which is set to welcome its first students in January 2027 under the Thrive Student Living banner.

The new development was celebrated with a sod-turning ceremony, attended by the Honourable Mayor of eThekwini, Cllr Cyril Xaba, and the Chief Financial Officer of eThekwini, Dr Sandile Mnguni, as well as representatives of Thrive Student Living and the Growthpoint development team and its partners. This massive investment puts into action Growthpoint’s commitment made at the recent KwaZulu-Natal Investment Conference for R800 million of investment in the province over two years, which it is executing through this development for Thrive Student Living.

Amogelang Mocumi, Fund Manager of Growthpoint Student Accommodation Holdings, which operates under the Thrive Student Living brand, expresses the company’s commitment, “By prioritising student accommodation that supports better education outcomes, we are not only enriching lives but supporting employment and fuelling a more competitive economy. This investment highlights the transformative power of strong partnerships and underscores what is possible through collaborative efforts. To grow these achievements, we need a unified approach across all levels of government, together with private sector investment to support economic growth. Together, we can build a brighter future for young people and our nation.”

Growthpoint develops purpose-built student accommodation located and designed around students to help them succeed and make the most of their university experience.

In line with Thrive Student Living’s ethos of fashioning vibrant campus communities, each unique in its architecture and design to reflect and foster its specific community, it has shaped a beautiful contemporary design for the new 12-storey building incorporating the red face-brick that is an architectural signature in the Berea area.

The design also includes all the added amenities that Thrive Student Living accommodation offers, like study areas and games rooms, gyms and IT rooms, and backup power and water. Uniquely, it has also been designed to include a small element of ground-floor retail tailored towards daily convenience, which will serve building residents, other students, and the immediate community, as there is nothing else in the area fulfilling this need.

The development will also benefit from Growthpoint’s recognised green building leadership, creating healthy, sustainable environments and operating with a social consciousness that adds value to communities. Growthpoint’s developments boost job and economic opportunities, in addition to having long-term positive socioeconomic impacts of education support.

While this is its first purpose-built student accommodation project in KZN,Growthpoint has a proud track record of leading purpose-built student accommodation developments in the university cities of Johannesburg, Pretoria and Cape Town.

It was recently named the winner of the SAPOA Property Development Award for Innovative Excellence in Student Accommodation for its development of Thrive @ Horizon Heights, also for Thrive Student Living, at the bustling heart of Johannesburg’s student community. Thrive @ Horizon Heights opened for the 2024 academic year and was well let, proving popular with those from the nearby University of Johannesburg as well as the University of the Witwatersrand.

The Growthpoint development team is currently completing two new properties for Thrive Student Living for the 2025 academic year: Thrive @ Crescent Studios, a R300m 900-bed property located in Braamfontein, and Thrive @ Arteria Parktown, a R200m 500-bed located in Parktown, both ideally positioned for Wits University students.

Piling commenced at the eThekwini site in the first week of October 2024 in preparation for the main building contractor, which moved onto site today (Monday 18 November 2024), to begin construction.

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