INDUSTRY EXPERTS
INDUSTRY EXPERTS
SPOTLIGHT ON AMDEC GROUP
Founded in 1989 , Amdec Group has developed a reputation for driving sustainability in its South African New Urban developments , which has made these developments highly sought after by local and foreign investors . With a portfolio of work that includes the Evergreen Lifestyle retirement villages , Westbrook in the Eastern Cape , the redevelopment of urban areas and several commercial spaces ,
Amdec Group already holds a number of enviable accolades . Now in a high-profile partnership with Marriott International , Amdec Group is currently primarily focused on developments in the major urban centres of Johannesburg and Cape Town .
The relationship with Marriott originated when Amdec acquired Melrose Arch in 2005 . The hotel operator for the precinct was Protea ’ s African Pride , followed by a second Protea hotel , Fire & Ice . This meant that there was an existing relationship with Protea before Marriott acquired the group . The relationship was thus formed on the basis of existing hotels and has been reinforced by the prospect of new hotels .
Amdec Group ’ s pipeline of work for now is firmly focused on two developments under way in Cape Town , The Yacht Club and Harbour Arch , with a combined value of more than R3 billion .
Harbour Arch , in Cape Town ’ s Culemborg node , has been designed as a pedestrian zone with slightly less commercial space than Melrose Arch in Johannesburg . As there is a lower demand for commercial space in Cape Town , Harbour Arch will place greater emphasis on pedestrianised residential , retail and leisure space . The Yacht Club , in the heart of Cape Town ’ s Waterfront , has 170 residential opportunities , with approximately 90 % already sold off-plan . Harbour Arch and The Yacht Club are in different locations and aimed at different target markets , which ensures they won ’ t compete directly with each other .
As for the value of Amdec Group ’ s developments , Stopforth emphasises the benefits for all parties involved . “ When we initially launched The Yacht Club , investors could buy property in Harbour Bridge for R24 000 per square metre , so buyers have already made significant returns on their investments . But that ’ s property development : you come in and gentrify an area – you improve it so everyone benefits . And that ’ s what we ’ re doing in Melrose Arch as well , where we have the capacity . We ’ re looking to expand the borders onto Corlett Drive and gentrify the area in its entirety .”
IN THE PIPELINE
Looking to the future , Harbour Arch promises to keep Amdec Group with a full pipeline of opportunities in the foreseeable future , and then The Yacht Club should reach its completion date over the next two years . The additional developments planned for Melrose Arch are already halfway completed as well . Amdec Group has also hinted at the possibility of new opportunities in KwaZulu-Natal , so keep a lookout for an exciting prospective development in Durban .