Cape Town’s smart city attracts smart investors
Rabie’s Nine Palms development, its most recent in Century City, Cape Town’s smart city, proves that a healthy investor appetite exists for well-designed developments in the right location.
Launched on 26 May, 100 of the 132 apartments at Nine Palms have already been sold, with studios being snapped up first.
“We are over the moon with the response to Nine Palms!” says Mariska Auret, Director at Rabie. “The investor market is traditionally quite strong in Century City, and with the rental market currently experiencing an undersupply in the node, we are witnessing a welcome revival in demand.”
The appeal of Nine Palms is greatly influenced by its location in Cape Town’s smart city and the lifestyle that it creates. Smart, sustainable cities where all the necessary amenities are within a short walk, bike ride or public transit trip, are increasingly in demand. Located within the walkable Bridgeways precinct, Nine Palms’ residents will have access to 13 restaurants, 5 hotels, Canal Walk Shopping Centre with an additional 60 eateries, 3 fitness options and a conference centre without the need for transport altogether.
“Smart cities incorporate a host of cutting-edge technologies. Century City boasts many state-of-the-art in-practice smart initiatives, of which its smart safety and security measures, which includes a Security Operations Centre, supporting network of cameras and preventative security strategy, is only one component,” continues Auret. “As property developers, we are consistently looking for ways to ensure that our buildings remain smart too. Nine Palms, for instance, includes full backup power to the building and all apartments, which means that you never experience loadshedding. Every apartment has fibre-to-the-home and smart access control to name a few.”
The appeal of Nine Palms is greatly influenced by its location in Cape Town’s smart city and the lifestyle that it creates. Smart, sustainable cities where all the necessary amenities are within a short walk, bike ride or public transit trip, are increasingly in demand.
Furthermore, the balance between nature and modern urbanism is also unique to Century City. “Nine Palms has the benefit of being launched with the full beauty of Ratanga Park on display. Interested parties no longer have to imagine the lifestyle they can enjoy living here, they can already see and experience it.”
“We are seeing a younger purchaser emerge, with interest from around the country and Africa,” says Devon Usher, Director at Property World responsible for the sales of Nine Palms. “Cape Town remains an aspirational and bankable destination and Century City a great long-term investment.”
Cape Town remains an aspirational and bankable destination and Century City a great long-term investment.