December 10 2025 15:00
SANDTON, SOUTH AFRICA
The R2bn Olympus Sandton high-rise luxury apartment project broke ground this month, following joint venture partners Tricolt and JSE-listed Growthpoint Properties securing over R1.2bn in sales.
The twin-tower development has seen such demand that both towers are expected to be developed simultaneously.
Houghton-headquartered Tricolt said the flagship luxury residential development would elevate the Sandton skyline and redefine mixed-use living in Johannesburg’s most prestigious urban precinct.
Olympus Sandton also falls within Growthpoint’s Sandton Summit mixed-use precinct, which surrounds the landmark Discovery head-office that Growthpoint jointly owns with private group, Zenprop.
“With 420 of the 529 units already sold, and R1.2bn in sales secured within eight months of launch, Olympus Sandton stands out as one of the fastest-selling residential developments in the area’s recent history,” said Tricolt in a press statement.
Property Flash broke the news of the Olympus development in December last year.
The project is Growthpoint’s first apartment development in Sandton with Tricolt as a JV partner. It has developed apartment complexes in the coastal cities of Cape Town and Durban, located at the V&A Waterfront and adjacent to its La Lucia Mall property.
Tricolt said construction on Olympus Sandton will take approximately 26 months, with an estimated completion date in early 2028.
The development was designed by Australian-based firm ClarkeHopkinsClarke Architects in collaboration with DHK in South Africa.
Neil Schloss, SA head of Asset Management at Growthpoint Properties told the press: “As South Africa’s cosmopolitan business capital, Sandton is undergoing a revival and Olympus Sandton is rising with it. Accelerated by strong sales, this development reflects our strategy to unlock prime value through market-aligned, mixed-use spaces where people want to live, work, and connect.”
Tricolt said the group secured the sale of the penthouse in tower one for a base price of R40m, while the estimated final value of the property with upgrades is expected to be R44.45m.
Olympus Sandton’s buyer profile is split between 70% local buyers and 30% international buyers, while 75% of owners are investors and the remaining 25% owner-occupiers. Many of the buyers are business people from west Africa.
247@propertyflash.co.za
