Property Flash


The R16bn Harbour Arch, the most ambitious mixed-use development in SA since the V&A Waterfront, is still on track to open by 2029.

The Covid-19 pandemic was unrelenting, placing the economy under immense strain. The country’s government imposed a lockdown with varying levels of restrictions to stem the spread of Covid-19. But this did not quell the demand for new affordable and investment grade housing in SA.

One major project is the new Harbour Arch complex, a major mixed-use development that will include six towers and is set to be one of the most valuable commercial property jewels in SA. It is the being developed by Amdec whose CEO, James Wilson, believes it can rival the most valuable commercial asset in the country, The V&A Waterfront, which is worth about R20bn.

“We are delighted with what we have achieved so far in developing Harbour Arch and are well on-track to complete it within a 10-year-period,” he says.

The Harbour Arch complex will include six towers and is being developed on the 5.8 ha Culemborg site on the north-eastern edge of the Cape Town CBD. The complex is expected to worth around R16bn when complete and to draw residential, office, retail and other tenants.

“We believe in the South Africa’s economy and future. We feel that it is an investment destination and we are confident about remaining a long-term investor here,” says Wilson.

“Current levels of poverty and unemployment are excessive and unacceptable, so it is vital that the public and private sectors work together more closely. Employment opportunities need to be created wherever possible,” he says.

The complex will be a precinct with 200,000m² of usable space. Wilson said the Harbour Arch will provide some 20,000 construction jobs over the next 8 to 10 years, varying from labour opportunities through to work for highly skilled artisans and project managers. The first two residential towers will contain apartments priced from R1.8m to around R8m.

Harbour Arch is one of the most ambitious developments ever in South Africa and it is set to assist varied parts of the Cape economy tremendously. The residential component will deliver high-end housing, hotels within it will serve tourists, there are opportunities for retailers and motor car dealerships.

Alistair Anderson

Leave a Reply

Your email address will not be published. Required fields are marked *