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Joburg market’s highs and lows

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The highlight of the Joburg market’s 2017 has been the extensive multi-use developments that are taking place at the Waterfall precinct near the Mall of Africa.

According to Rode & Associate’s Erwin Rode, the highlight of the
Joburg market’s 2017 has been the extensive multi-use developments
that are taking place at the Waterfall precinct near the Mall
of Africa, including the upmarket Steyn City. 

“Taken with the Fourways Mall redevelopment, a whole new
city is taking shape. The centre of gravity of Joburg keeps moving
north.” 
The lowlight has been the non-development of the Modderfontein
land that AECI/Heartland sold to Chinese developer Zendai.
However, given the better-located developments near the Mall of
Africa, Rode says this is “hardly surprising”. 
“A Modderfontein development should differentiate itself by aiming
at a different price class, but this will, of course, yield lower
returns to the developer.”

Property360 
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