Page 5 - Landscape SA 96

PROJECT

INNER CITY REVIVAL met with strong demand from tenants
in all sectors. Much was invested in
creating a place for people to enjoy, from
transplanting 200 large established trees
to providing public seating, an interactive
The Jewel City redevelopment in Johannesburg’s CBD is fountain for children, public art and more.
an extension of the Maboneng precinct, adding a further Jewel City sets a new benchmark for inner
city living and it is our hope that other
dimension to this vibrant area and expanding its integrated property investors will join our efforts and
lifestyle space. embrace this approach.”

Between all this is vibrant public space, an
ivercity Urban Property Fund, which Seeing it now, it is difficult to believe integral ingredient in any inclusive world-
is renewing and re-energising the that the biggest challenge we faced class ‘live, work, play’ precinct. It is also
Dcountry’s urban centres with its in its development was getting others fully pedestrianised with a people-friendly
focus on inner city precinct development, to invest in our vision to build quality walkway along Fox Street and pedestrian
has completed the first phase of Jewel City precincts in the city, and take a leap of walkways which integrate it fully into the
in a two-year programme. faith with us. If anything, COVID-19 has Maboneng precinct. Eight massive murals
proven the resilience of this asset class, by local artists adorn the walls of each of
Backed by the experience of some of South validated the business case for strategic the eight buildings that make up Jewel
Africa’s leading property investors and urban rejuvenation and strengthened our City.
developers, Divercity’s major shareholders conviction.”
and stakeholders are Atterbury and In the case of Jewel City, Divercity
Ithemba, with cornerstone investors RMH Armond Boshoff, CEO of Atterbury South has worked closely with the City of
Property and Nedbank Property Partners. Africa, adds: “Jewel City in Maboneng is a Johannesburg with regard to cleaning and
blueprint for Divercity’s strategy of inner security in the precinct and its surrounds.
Divercity’s redevelopment has converted city precinct development that combines By collaborating with the city, Divercity’s
Jewel City into the heart of a thriving, commercial buildings with affordable leading urban management solutions
modern neighbourhood, and is reviving residential space to create inclusive and have the ability to catalyse superbly
inner city living. It connects to the diverse neighbourhoods. We intend to managed urban areas for the city.
landmark Arts on Main, and extends across complete more developments in the same
six city blocks which have been closed for fashion - Jewel City is just the beginning.” The official launch of Jewel City in
decades and which previously housed Maboneng took place on 24 September
Joburg’s precious metals and diamond Derrick Pautz, who heads Atterbury’s Gauteng 2020, Heritage Day. LSA
trade, towards Divercity’s redeveloped development, confirms the overwhelmingly
iconic Absa Towers Main. positive market response to Jewel City, which For further information contact Carel
was well ahead of leasing projections before Kleynhans, CEO, Divercity, on 084 500 0473
The mixed-use Jewel City includes COVID-19 emerged in South Africa. “The
2,700 apartments, which are enjoying quality of the product – retail, residential
exceptionally high levels of take-up, as and offices – is compelling and has been
well as 20,000sqm of commercial space.
Its retail space is already fully let, and
its offices are increasingly attracting
businesses to the area which benefits from
immediate access to all the amenities that
employees value most.

An inner city Melrose Arch, Maboneng’s
new Jewel City offers people a safe,
amenity-rich space in which to live and
play. There are expansive lawns and play
areas, schools, medical facilities, offices,
retail, recreation and public art.
Tebogo Mogashoa, chairman of Divercity,
remarks: “The reaction to Jewel City has
been phenomenal. People naturally
gravitate to spaces that are safe and
beautiful, and Jewel City benefits from
infrastructure and community. We are
thrilled that we were able to see its
potential, redevelop it, make it safe for
families, and provide amenities and job
opportunities.”
Carel Kleynhans, CEO of Divercity, adds:
“We are very excited to share Jewel City. Jewel City redevelopment in Johannesburg’s Maboneng precinct

Landscape SA • Issue 96 2020 3