JOHANNESBURG – Property development and asset management group Atterbury Property Fund is to develop a mix-use complex in Pretoria at a total cost of R6 billion.
Atterbury development manager Raoul de Villiers said at the launch of the first phase of the Castle Gate precinct on the last portion of the original Waterkloof farm yesterday that the investment was the property industry’s endorsement of confidence in the country.
“For successful property development and investment, it is necessary to look through the short-term cycles and take a long-term view of the economy and a country as a whole,” De Villiers said.
“Having lived in Europe for the past four years myself, I can report back that even though it’s a little bit dry on the peripheral, the grass is still the greenest right here in South Africa.”
Castle Gate is a large-scale modern, multifaceted development built on land the size of 60 rugby fields.