Growthpoint Properties Secures Strategic Investment in Cape Winelands Airport

Growthpoint Properties, a leading property developer, has made a significant strategic investment in the Cape Winelands Airport, securing the right to co-develop and manage the 450-hectare precinct. This partnership aims to create a world-class airport that serves the region for generations to come, driving economic growth, job creation, and sustainable development in the Western Cape. The airport is designed to be the greenest in the world, operating largely on renewable energy and water reuse systems. The partnership represents a significant step-change for Cape Winelands Airport, providing the institutional foundation and delivery capacity needed to build a global-quality airport precinct.

Key Takeaways:

• Growthpoint Properties has invested in the Cape Winelands Airport, securing the right to co-develop and manage the 450-hectare precinct.
• The partnership aims to create a world-class airport that serves the region for generations to come, driving economic growth, job creation, and sustainable development in the Western Cape.
• The airport is designed to be the greenest in the world, operating largely on renewable energy and water reuse systems.
• The partnership involves the airport team leading aviation strategy and master planning, while Growthpoint brings institutional capital, property expertise, and sustainability leadership.
• Growthpoint will manage property and assets across the precinct's logistics, commercial, and hospitality components, with rights to co-invest in future developments.
• The airport is expected to sustain about 35,000 direct and indirect jobs initially, growing to over 100,000 across 20 years.
• Construction is expected to start in early 2026, with phased development targeting full commissioning by 2028 and capacity for more than five million passengers annually by 2050.
• The airport will relieve pressure on existing aviation infrastructure, reduce costs and carbon emissions for operators, and anchor tourism, hospitality, and business investment along the Cape Winelands corridor.

Statistics:

• 450 hectares - size of the airport precinct
• 35,000 - direct and indirect jobs expected to be sustained initially
• 100,000 - jobs expected to be sustained across 20 years
• 2026 - expected year of construction start
• 2028 - expected year of full commissioning
• 2050 - expected capacity for more than five million passengers annually
• 450 million - expected revenue for the airport in the first five years

Sources:

• [Supplied]
• [Bizcommunity.com (2022)]