Devmet Property Developments , a consortium of Devmark Property Group and equity investors, are nearing the realisation of The Galleria, an ambitious 11.4ha mixed-use property development in Tyger Valley, Bellville.
The Galleria offers a unique mixed-use urban environment, with the location making the property and investment fundamentals of the site very compelling. The development site, which is home to the Bellville Velodrome, is in the second CBD of Cape Town, says Hein Ehlers, chief executive of Devmark Property Group.
“The Galleria presents a real opportunity for investors and tenants to be part of a modern mixed-use growth node, especially given the City of Cape Town’s stated objectives to densify and infrastructure spend towards Bellville .”
The development will include retail, commercial, residential, hotel, sport, entertainment and medical offerings.
It is envisaged that about 500 sectional title apartments will be developed on the site which, in turn, will generate the need for bespoke lifestyle-based retail and food offerings, which the developer intends to curate to meet the ever-increasing requirements of a sophisticated public.