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URBAN REGENERATION,
JOBURG STYLE

Striking transformations are taking            	 The Maboneng Precinct began de-           regeneration locations, there has been a
         place in the urban landscape. The     velopment in 2007, the same time as the     price growth with the residential apart-
         regeneration of urban areas in        downward cycle of the property market in    ments. Some investors have seen a total
         South Africa, particularly Johan-     South Africa. It was during a time when     annual return of close to 20% which is
nesburg, has become an important topic         the Johannesburg CBD area was consid-       extremely unique in the South African
since the global economic downturn. The        ered a ‘no-go’ zone. Developers of the      residential market. In some instances,
reshaping of Joburg’s inner city has been a    precinct saw opportunity where others saw   this has resulted in achieving a return on
positive movement and it has transformed       immitigable circumstance.                   investment without ever having to incur a
several business districts who fell victim in  	 The word Maboneng means “Place            monthly net cash outflow. A rare find in
the 1990s when the middle class took off       of Light”, aptly named as it has become     this day and age.
into the northern suburbs.                     a successful, privately developed urban     	 Urban regeneration areas are fast
	 Joburg’s urban regeneration has taken        neighbourhood with a thriving communi-      becoming some of the most exciting resi-
over, allowing for higher occupancy rates      ty. The area includes independent retails,  dential neighbourhoods in South Africa.
in previously un-attended areas. The           restaurants and entertainment venues as     Offering much more than just a place to
combination of quality properties with         well as loft apartments, offices, hotel, a  live, the locations are also offering a quali-
low rents and an increase in investment        museum and creative factory spaces all      ty lifestyle at an affordable price.
has encouraged large urban areas to be de-     within a connected urban environment        (Information source: www.joburg.org.za)
veloped and carve out an interesting new       framework.                                  (Photos: www.mabonengprecinct.com)
lifestyle for the emerging middle-class.       	 In this area, as well as other urban

25 Feb / Mar 2015 CEMAIR
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