Following the soft launch of its R2-billion Olympus mixed-use residential and retail development in Sandton, Gauteng, Growthpoint Properties CEO Estienne de Klerk anticipates starting construction on the first of two towers in the coming months. During a media tour on January 29, De Klerk revealed that 160 out of 283 units in the first tower have been sold, representing 60% by area and 70% by value. Sales reaching 75% to 80% will justify the capital needed to commence construction.
The first tower will feature 22 storeys, including hotel rooms, residential units, a spa, sauna, infinity pool, and a Marble restaurant on the eighteenth floor. Among the initial sales is a R45-million penthouse spanning 900 m², highlighting the strong demand for high-end residential properties in Sandton Central. Smaller studio units start at R1.5 million.
Located at the intersection of Rivonia Road and Sandton Drive, Olympus is being developed in partnership with luxury residential developer Tricolt. The residential units will offer customizable turnkey design elements, a principle that will also apply to the second tower, which will be tailored based on market demand.
The Olympus development promises stunning views of the Johannesburg, Sandton, and Midrand skylines, along with proximity to the newly launched LXX shopping centre. De Klerk noted that the joint venture with Tricolt aims for profitability post-development, with Growthpoint retaining some ownership of the retail sections.
In line with its environmental, social, and governance (ESG) commitments, Olympus will incorporate smart energy management systems. Growthpoint's e-co2 scheme provides tenants access to renewable energy sources, enhancing their ESG credentials.
In addition to Olympus, Growthpoint is also developing light industrial units in the Island Precinct in Samrand, which spans 400,000 m², with 80,000 m² already developed. The existing buildings cater to various businesses, offering spacious distribution and data centers while ensuring efficient operations and security.
The first tower will feature 22 storeys, including hotel rooms, residential units, a spa, sauna, infinity pool, and a Marble restaurant on the eighteenth floor. Among the initial sales is a R45-million penthouse spanning 900 m², highlighting the strong demand for high-end residential properties in Sandton Central. Smaller studio units start at R1.5 million.
Located at the intersection of Rivonia Road and Sandton Drive, Olympus is being developed in partnership with luxury residential developer Tricolt. The residential units will offer customizable turnkey design elements, a principle that will also apply to the second tower, which will be tailored based on market demand.
The Olympus development promises stunning views of the Johannesburg, Sandton, and Midrand skylines, along with proximity to the newly launched LXX shopping centre. De Klerk noted that the joint venture with Tricolt aims for profitability post-development, with Growthpoint retaining some ownership of the retail sections.
In line with its environmental, social, and governance (ESG) commitments, Olympus will incorporate smart energy management systems. Growthpoint's e-co2 scheme provides tenants access to renewable energy sources, enhancing their ESG credentials.
In addition to Olympus, Growthpoint is also developing light industrial units in the Island Precinct in Samrand, which spans 400,000 m², with 80,000 m² already developed. The existing buildings cater to various businesses, offering spacious distribution and data centers while ensuring efficient operations and security.
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