Realestateweb - Rosebank precinct booming - Commercial - South Africa's fastest-growing property website

Realestateweb - Rosebank precinct booming - Commercial - South Africa's fastest-growing property website

Old Mutual Property Group's project leader, Debbie Caplin, says R5bn is being invested in properties surrounding Rosebank's "The Zone" mixed use project in northern Johannesburg. Caplin was speaking at the official opening of the upmarket R850m project to extend The Zone, known as Zone 2 and OMIGP (Old Mutual Investment Group Property Investments).

Rosebank's Zone 2 is fed by the Gautrain and the bus rapid transport system. It comprises two floors of retail space, a 158-room Holiday Inn, a four-level basement parking garage and loft offices. Caplin says on the leasing side, the complex has let 75% of retail space and 52% of office space. She said: "It has been tough but we're seeing a lot more activity in the market and are confident that we'll be fully let by the 4th quarter of 2011."

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Denny Crane

Denny Crane
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