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Waterfall City: Firmly placing Midrand as the next major CBD in Gauteng

Category News

Emerging growth node

Gauteng has a string of suburbs that are evolving into their own unique business powerhouses that serve to further cement the province’s status as the economic hub of the African continent. An example of this is the suburb of Waterfall, which is arising as the next growth node and is home to Waterfall City- The largest mixed-use property development in South Africa. It is situated in Midrand and extends from Modderfontein and Kyalami, and is only 19 minutes or 16.2 km away from the Sandton CBD.

Waterfall City: A multimillion rand mixed-development 

Worth an estimated R16 billion and constructed by Attacq Limited, Waterfall City is the new CBD in Waterfall. It lies conveniently on the Allandale Road exit and covers both sides of the N1 highway. The sheer size of Waterfall City is larger than Sandton and extends over 2 200 hectares of land, stretching from Woodmead to Kyalami and Vorna Valley.

The mixed-use development comprises of residential and commercial properties and houses the largest single phase mall on the continent- The Mall of Africa. In addition, the entire area is equipped with an advanced fibre-optic network for fast internet connection and download speeds. The precinct has a number of schools, crèches and hospitals with a training college and a helicopter airport will soon be built. 

Waterfall City’s commercial and industrial precinct makes up a total of 1.88 million sqm and current tenants include City Lodge, Honda, Premier Foods and Westcon and Angel Shack. With Colgate, Servest and Novartis office buildings expected to be built later on in the year. 
 
The latest blue-chip company to be built on the precinct is the PWC headquarters, which will be a towering 26-floors and will be the first high-rise building to greet the Waterfall City skyline. 
 
Currently, Waterfall City is 35 percent complete and a grand total of R1.5 billion has already been injected into roads, electricity and water and sewerage works. Its completion is expected by 2025, with 86 000 jobs estimated to be created. The development is expected to grow the local economy by an estimated R134.2 billion and is pegged to contribute around R1 billion in property taxes each year.

“Live, work and play” in Midrand

The precinct represents a shift in the urban landscape, one that is characterised by the concept of “live, work and play”- A concept that only a mixed-use development like Waterfall City can deliver. Offices are conveniently situated near the N1 highway, allowing for hassle-free commute and easy access to the largest mall in Africa where one can conduct business meetings or use for leisure purposes. Owing to the multi-billion rand cash injection into Midrand- the entire suburb will now be seen as a major player in the commercial and industrial property sector.

Quoin Online has uncovered the most ideal commercial and industrial spaces that offer high-quality security and easy access to all major highways, shopping malls, banks and restaurants, directly in the heart of the ever-developing suburb of Midrand.

For property sales queries contact, Director: Karen Miller
Telephone: 0833272072
Email: karen@quoinonline.co.za

 

 

 

 

For property rental queries contact: Barry Wilson 
Telephone: 083 410 0249
Email: barry@quoinonline.com

Author: Quoin Online

Submitted 23 Jun 16 / Views 4964