New mega-development breaks ground in Cape Town’s R21 billion smart city
Abland has broken ground on Canal Plaza, a 10,333 m² premium office development in Cape Town’s R21 billion Century City precinct.
In partnership with Gutsche Investment (GIMCO), the Moolman Group and Blue Dawn Capital, Abland Property Developers has officially broken new ground on Canal Plaza in Cape Town’s Century City.
This premium-grade office development comes in response to the rising demand for high-quality workspace in well-connected business hubs and is already attracting strong interest from blue-chip tenants.
Canal Plaza’s 10,333 m² of gross lettable area across four floors is designed to meet the needs of companies seeking modern offices in a location that supports both business and employee well-being.
Set for occupation in May 2027, it is one of the last developments to overlook the Intaka Island Nature Reserve in Century City.
Today, Century City is a 250ha Cape Town-based precinct with 10,000 residents, 16 hectares of nature reserves, and 470,000m² of offices.
The land that became Century City was originally owned by the listed company Ilco Homes, which which had started developing entry-level housing on a neighbouring site to the north, separated by a railway line.
However, after the company ran into financial trouble, developer Martin Wragge of Monex stepped in and pushed through a crucial rezoning from residential to mixed-use to make the project viable.
Development began in 1997 amid scepticism and a weak economy, but momentum grew as major corporates moved in. In 2004, Rabie Property Group acquired the remaining land.
With an economic upswing underway, Century City expanded rapidly to more than one million square metres of developed or planned bulk, with total investment now exceeding R21 billion.
“Century City’s modern infrastructure, green spaces and mixed-use appeal offer strong value for corporates,” said Abland Property Developers Director Grant Silverman.
“As more businesses return to the office or adopt hybrid models, they are looking for environments that support productivity, talent retention and workplace culture, and Canal Plaza responds to this business need.”
Tapping into a property market trend
Abland is a leading real estate development company specialising in premium office, retail, industrial, residential and motor developments that attract both local and international Tenants.
In Cape Town, Abland’s office developments include landmark projects such as The Rubik and 35 Lower Long, two of the city’s most sought-after premium-grade buildings.
Located just off the N1, the group explained that Canal Plaza is well-positioned to capitalise on a growing property trend.
The latest market data shows that P-grade offices in key nodes such as Century City are seeing strong demand and healthy take-up of new developments.
This is the fifth Century City office asset investment for GIMCO, who are known for its quality properties and signature professional property services.
GIMCO’s diversified portfolio of retail, office and industrial properties is focused in Cape Town and Port Elizabeth.
Vivienne Gutsche of GIMCO said the launch of Canal Plaza comes at the right time to meet growing demand for premium, sustainable office space in Cape Town.
The P-grade, 4-Star Green Rated development will offer backup power and water, high-speed fibre and access to public transport via a nearby MyCiTi bus stop.
Canal Plaza will offer competitive rentals, with tenants receiving fit-out allowances on top of white-box specifications that include lay-in ceilings, zoned air-conditioning, lighting, and smoke detection.
“With limited land and a constrained supply of prime office space, Canal Plaza is well-positioned to appeal to tenants seeking green-rated offices in an exceptionally strong business node,” she said.
The new development underway at 1 Heron Place overlooks the Intaka Island Nature Reserve and is within walking distance of Canal Walk Shopping Centre.
Inside Century City
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