Amdec Group, the developer of the R16 billion mixed-use Harbour Arch precinct in Cape Town, has completed its first tower in the project and handed over the first units to buyers.
Five more Harbour Arch Towers will be built, and the second tower will commence soon.
Construction at Harbour Arch began in February 2020 – a few months before Covid-19. Nevertheless, Tower 1 has been completed on time, within budget, and it is currently being handed over to residents and tenants.
The development is built on a 5.8-hectare site, with 200,000 square metres of usable space, featuring six individual towers.
The completed precinct will include the following commercial offices and corporate headquarters; an urban park and shopping galleria at the street level; an open-air piazza lined with restaurants, coffee shops and cocktail bars; two Marriott hotels with conferencing facilities; a flagship health and fitness club; and the CBD’s largest selection of residential apartments.
‘The market is looking for a particular type of urban lifestyle, epitomised by the global trend of New Urban design – where residents can live, work, play, relax, and stay in a safe, convenient, sustainable and community-focused environment’, according to Managing Director of Amdec Property Developments, Nicholas Stopforth.
According to the Amdec Group CEO, James Wilson, ‘More than 20,000 jobs are being created during the construction phase alone, with many more employment opportunities – especially in the tourism, hospitality and retail sectors – upon completion’.
The 10-year project will stimulate a further R100 million in infrastructure upgrades for a rapidly densifying city with a projected population growth of five million by 2050.