Recent developments in Sandton good news for businesses
The Sandton area is arguably one of South Africa's greatest development success stories. The area is not only home to some of the country's largest blue-chip companies, but new development and expansion projects over the last years have ensured that the area stays at the forefront of the property scene. This is true for commercial developments like office space and residential projects.
The Gautrain has not only made it easier for commuters to reach the Sandton CBD, but it also spurred other developments in the area. While the current economic climate is still keeping some developments on the sidelines, the recent expansion project at Sandton City is an exciting addition to the already world-class centre. New international retailers like Zara will probably lure curious shoppers and is also good news for other businesses in the area.
Sandton City, which first opened its doors in September 1973, has grown from a 50 000sqm mall with 120 shops to a 143 955sqm destination with 331 retailers. The entire centre, which also includes office space and an adjoining hotel, now comprise 215 000 sqm. The expansion project makes Sandton City one of the largest shopping centres in the Southern Hemisphere.
Care was taken to incorporate environmentally friendly principles during the development.
“Green principles were used at all stages, from donating material salvaged from demolition to worthy causes or recycling; to green building design and materials, energy efficiencies and even retrofitting the existing mall where viable,” says Julie Hillary, General Manager Sandton Region at Liberty Properties. Liberty Properties was responsible for the management of the development project. The Liberty Group holds a 75% interest in Sandton City, while Pareto has a 25% interest.
“The new extension has been effortlessly connected to the existing mall and created a new level of interconnectedness and ease navigating through the mall – a welcome improvement for shoppers,” Hillary notes.