Pivotal Property Fund and Abland Proprietary Limited recently broke ground for the construction of a joint property in South Africa.
The Loftus Park Development will be co-owned by Pivotal and Abland. However abland will be the property developers.
The two companies who co-share the property will develop an exciting and dynamic mixed-use facility adjacent to the Iconic Loftus Versfeld sports stadium which is home to the Blue Bulls.
The joint property in South Africa will have A and premium grade commercial office space, a state of the art exhibition center, craft brewery, retail shops, gym and restaurants which will surround an open air piazza.
Construction of the facility will incorporate the latest sustainable green building practices and energy efficient technologies to save on utilities for tenants.
The building will have backup power generators, emergency water storage systems and state of the art IT systems.
According to the CEO of Pivotal, Jackie van Niekerk, the development helped them raise the bar with an exceptional mixed-use concept located in the middle of South Africa’s richest rugby institutions.
The development is located in such a way that it has excellent proximity to the Union Buildings, embassies, the University of Pretoria and various prestigious schools and hospitals.
Loftus Park is also easily accessible to major transportation routes in Gauteng.
Construction work is set to begin in the first quarter of 2016 with the first phase expected to be complete by end of 2017. Upon completion, Abreal will be appointed the Property management company.