Calgro M3 and Eris Property Group (EPG) have embarked on an ambitious joint venture to develop a new project in one of South Africa’s most affluent areas, with the potential to generate a staggering R18 billion in revenue.
The two entities recently finalized the acquisition of a prime land parcel located between Marlboro and Waterfall in Johannesburg, signalling the commencement of the Bankenveld District City (BDC) development.
The monumental project is slated to encompass the construction of 20,000 to 30,000 housing units, along with an array of commercial, retail, and industrial spaces. Notably, approximately 34% of the land will be dedicated to essential infrastructure initiatives, including road networks, stormwater management systems, and expansive green belt areas.
According to Calgro M3, the venture has the capacity to significantly augment its existing project pipeline, potentially doubling its revenue streams with the projected R18 billion windfall.
EPG has highlighted the strategic location of the 300-hectare development, positioned adjacent to the Marlboro Road Gautrain station and in close proximity to Sandton, with prominent exposure along the N3 highway. This positioning solidifies the BDC as Johannesburg North’s preeminent nexus, seamlessly linking residents and commuters to key destinations and amenities.
“The business precinct’s prime positioning near established and burgeoning residential hubs caters to the evolving needs of communities, offering convenient proximity to workplaces,” affirmed EPG.
Envisioned as a multifaceted hub, the BDC will boast 500,000 square meters of Warehouse & Logistics, Retail, and Commercial facilities, catering to diverse business needs and consumer demands.
Moreover, stringent security protocols, including advanced access control measures, will be implemented throughout the development, ensuring a safe and secure environment for occupants. The project will also prioritize sustainability, with plans for energy-efficient building solutions to minimize environmental impact.
As South Africa continues to evolve, the Bankenveld District City stands as a testament to the power of collaboration and innovation, poised to redefine urban living and commercial landscapes while driving economic growth and prosperity for generations to come.
