New R2 billion development coming to Sandton

A new residential and retail development in Sandton, The Olympus, achieved R940 million in sales within days after launching its luxury apartments for sale on 27 February.

At the close of the public sales launch weekend, 295 of the development’s apartments had sold.

The Olympus is Growthpoint Properties’ latest development, created in partnership with Tricolt, a premier developer specialising in high-end residential projects. 

Located in Sandton Summit, the building is anchored by the Discovery Head Office on the corner of Rivonia Road.

Growthpoint said its vision is to create South Africa’s premier walkable mixed-use precinct in the area. 

At the high-profile junction of Sandton/Katherine Drive and Rivonia Road, Sandton Summit is anchored by Discovery’s iconic head office building – co-owned by Growthpoint 55% and Zenprop 45%. 

The R2 billion Olympus Sandton development comprises 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 development’s first 24-storey residential tower, The Athena, is nearly sold out. Eager buyers have already secured 227 of its 288 apartments.

This building will include a premium dining experience from Marble on the tower’s 18th floor and a Pantry convenience store in the ground-floor retail space.

“Olympus Sandton sales are exceeding all expectations. In response to the overwhelming demand, we are pleased to announce the immediate release of apartments for sale in the second tower, The Apollo,” said Tricolt chairman Tim Kloeck.

“Tricolt brings its expertise in world-class residential living to this landmark project.”

The first 68 of The Apollo’s 224 apartments were snapped up swiftly on release.

“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,” added Neil Schloss, Head of Asset Management: South Africa at Growthpoint Properties. 

“The development’s sales success exemplifies Growthpoint’s strategic approach to unlocking maximum value from prime real estate assets through strategic, market-aligned development and partnerships.”

“I have been selling property for 40 years in Sandton, and Olympus has been the most incredible success story of my career,” said Kent Gush from Kent Gush Properties, which is also involved in the development.

Growthpoint and Tricolt will retain ownership of the two retail sections of the tower. 

Construction of Olympus Sandton is estimated to start in the latter half of 2025.

Olympus Sandton offers a variety of premium residences, with prices ranging from R1.49 million to R7.2 million for studios and one- and two-bedroom apartments. Penthouses are available from R14 million to 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.

“Olympus Sandton exemplifies Growthpoint’s strategic approach to unlocking maximum value from prime real estate assets,” Schloss said.

Beyond location and lifestyle, Olympus Sandton is a design icon – a landmark envisioned by award-winning ClarkeHopkinsClarke Architects

The design of Olympus Sandton incorporates sustainable building practices, including post-tension slabs and smart energy management systems.

The development will target a 4-Star Green Star rating from the Green Building Council of South Africa.

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Olympus Sandton