R2.5 billion mega-development with a hotel, restaurants and apartments coming to Cape Town

A R2.5 billion mixed-use development, ThirtyFour18, combining a five-star hotel, 101 apartments, offices and restaurants, is planned for Cape Town’s Foreshore.

The 35-storey development is being launched by Indalo Hotels and Leisure Group, a subsidiary of Afrirent Holdings, and its development partners.

The project will occupy a 1,680 m² site on Heerengracht Street, in front of the Cape Town International Convention Centre (CTICC) 2. The name ThirtyFour18 refers to the site’s geographical coordinates.

Construction is scheduled to begin on 22 April 2027, subject to the necessary approvals, with completion targeted for April 2031.

The development will combine hotel accommodation with private residences and Premium Grade office space. It will also include restaurants, entertainment facilities and hotel-style services for residents.

The project is expected to create 2,500 employment opportunities during construction. Once completed, it is projected to support 400 permanent jobs across hospitality, property management and related services.

ThirtyFour18 will rise 35 storeys above the Foreshore, Cape Town’s established business and tourism district, with views of the V&A Waterfront, harbour and Table Mountain.

The residential component of the building will comprise 101 apartments, including seven penthouses.

The development is positioned as a highly serviced private residential address, with facilities including concierge services, a rooftop swimming pool, and a sky bar.

The five-star hotel and dining facilities will add to the existing hospitality offering around the convention centre.

The development is also intended to support business tourism by providing accommodation, restaurants and entertainment close to the CTICC.

However, the site presents several construction challenges. It is positioned between the convention centre and a busy arterial road, which leaves limited space for construction equipment, materials and deliveries.

The project team said the foundations will require 90 piles, each extending around 90 feet into the ground.

Afrirent Holdings executive chairman Senzo Tsabedze said the development was an opportunity to create a landmark that contributes to Cape Town’s growth.

“Our ambition is to create a landmark development that contributes to Cape Town’s growth, attracts visitors and businesses, creates employment and demonstrates what can be achieved through investment, collaboration and innovative engineering.”

The City of Cape Town has also backed the development. Mayoral committee member for Economic Growth and Tourism James Vos said the project demonstrates how municipal land can be used to attract investment and create employment.

Afrirent’s growing hospitality portfolio

ThirtyFour18 represents a further expansion of Afrirent Holdings’ investment portfolio through its Indalo Hotels and Leisure Group.

Afrirent started in 2003 as a small fleet management business with two trucks. It has since expanded into complementary services, including car rental, vehicle tracking, tourism and automotive sales.

Indalo invests in hospitality businesses and manages several properties, including Skukuza Golf Club, Ba-Phalaborwa Hotel, Golf and Spa, and Protea Hotel Mahikeng.

The group’s portfolio includes properties in tourism destinations outside the major urban centres, while ThirtyFour18 represents a substantial investment in Cape Town’s CBD.

The project forms part of Afrirent’s longer-term strategy to diversify its investments and grow its hospitality brand.

Tsabedze said Cape Town was an attractive investment destination for the group, especially given the city’s development environment and its approach to working with private investors.

ThirtyFour18 adds to the development activity around the Foreshore and Cape Town’s wider CBD.

The area has become an important location for business, tourism and residential development, supported by its proximity to the CTICC, V&A Waterfront and central transport routes.

The new development is intended to build on the economic activity already generated by the convention centre, which attracts local and international conferences and events.

Vos said the City wanted to make municipal land available for private development where it could support economic growth.

“We cannot afford to have valuable city-owned land sitting idle when it could be contributing to Cape Town’s future.”

ThirtyFour18 was revealed to property stakeholders, investors and media at an event at the CTICC on 26 October 2026.

It is scheduled to launch publicly in January 2027, with a teaser campaign expected to begin on 1 December 2026.

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Photos of ThirtyFour18

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