Cape Town is poised to become Africa’s tech hub, thanks to a wave of investment in the city’s IT and high-tech manufacturing industries.
A number of high-value investments in the tech sector, including the selection of Cape Town as a base for Panasonic’s Africa headquarters, have boosted the Mother City’s reputation as a hub of innovation. As investors seek prime land for tech-related commercial property development, one area is standing out from the crowd: Century City.
Century City set to become SA’s Silicon Valley
Since the rapid development of tech startups, internet companies and IT firms known as “Silicon Cape” began several years ago, Century City has been a popular site for office space developments.
Century City offers an extremely accessible location, providing convenient travel between the Northern and Southern Suburbs, the CBD and the Northern Seaboard. The area has seen fast development over the past two decades, and is home to several large shopping complexes, hotels, conference facilities and premium office buildings.
A number of technology firms have chosen the area to base their Cape Town operations.
Most recently, Panasonic (one of the world’s largest electronics manufacturers, with headquarters in Japan) announced the opening of its Africa innovation headquarters in Century City. The company has expressed its intention to double the size of its presence in the area over the next few years.
At a time when some foreign investors have been shying away from South Africa, Panasonic has put its faith in Cape Town as an innovation centre of the future. Their choice of Century City as a continent-wide headquarters is a great endorsement for this rapidly developing technology hub.
New shopping and lifestyle developments help to spur growth in Century City
New commercial buildings aren’t the only exciting developments taking shape in Century City.
The Century Village Shopping Centre, which is being built at a cost of R80 million, will open its doors to local residents and office tenants in July 2019.
The 2 500 square meter development, which will include SPAR as an anchor tenant, will feature shopping, dining, and specialty retail offerings. The demand for a shopping centre catering to the Century City residents reflects the area’s popularity and excellent future prospects.
An area on the rise – and a great investment opportunity
As Cape Town continues its popularity as a commercial property market, Century City is fast becoming the a top investment magnet for commercial property.
With plenty of land available for development and new buildings of an excellent quality available for sale and to let, the area is well priced with plenty of room for price growth.
If you’d like to invest in a modern, dynamic area in Cape Town that has already caught the attention of large foreign investors, Century City may be the perfect choice.
To view our portfolio of premium commercial properties in the greater Cape Town area, including Century City, contact us today.