Property

New R2 billion development in South Africa’s richest city breaks ground

Shaun Jacobs • 28 November 2025

Construction has begun on the new residential and retail development Olympus Sandton in the centre of the richest square mile in Africa.

The development is backed by luxury residential developer Tricolt and South Africa’s largest property developer, Growthpoint.

This development forms part of Growthpoint’s ambitions to create a precinct on the edge of Sandton City, which includes Discovery’s head office alongside Bidvest Bank.

Growthpoint has long made its ambition of a walkable mixed-use precinct in the area clear. However, pandemic-era lockdowns and the slow return to the office have delayed these plans.

The company refers to the precinct as Sandton Summit, which is anchored by Discovery’s head office on the corner of Rivonia Road and Katherine Drive.

Located on the top of the Sandton ridge on Rivonia Road, the development will be one of the tallest buildings in the CBD and potentially the highest, given its geographical position.

On 26 November, it was announced that construction is officially underway, with the showroom on-site being demolished to make way for the foundation. The new showroom has been moved to the nearby Embassy Towers in Sandhurst.

Construction is beginning earlier than expected due to the extreme demand for the property’s apartments, with over R1 billion in sales being concluded on launch day.

This pushed Tricolt and Growhpoint to open up sales for both towers almost simultaneously, as demand far exceeded expectations. 295 of the apartments were sold during the launch weekend.

Around 85% of the building is already sold, prompting Tricolt and Growthpoint to begin construction ahead of schedule, just seven months later.

“The exceptional sales momentum has accelerated the Olympus Sandton development timeline, and we can confirm that construction of both towers should commence in the latter part of 2025 and early 2026,” Growthpoint’s Neil Schloss said just after sales began.

The R2 billion Olympus Sandton development is made up of two towers –

The first, The Athena, is a residential tower of 24 storeys along Rivonia Road.
The second, The Apollo, is a tower of at least 16 storeys located east of the first.

The Athena will include a Marble on the tower’s 18th floor and a Pantry by Marble convenience store on the ground floor.

Across the two towers, the development offers various premium residences, from one-bedroom executive suites to super penthouses.

Prices range from R1.86 million to R5.01 million for the apartments through to R7.2 million for studios and two-bedroom variants. The penthouses begin at R14.28 million and go above R45 million.

According to the sales team, buyers are most attracted to the building due to its prime location in Sandton Summit.

The building also offers a 360-degree Sandton skyline and views across Johannesburg from the 24-storey tower, which will become the highest point in Sandton.

Beyond location and lifestyle, Olympus Sandton aims to be an architectural icon – a landmark envisioned by award-winning ClarkeHopkinsClarke Architects.