Justin Blend, director of Africrest Properties, which is arguably Johannesburg’s biggest player in the market, shares his insights on why such conversions are booming and gives an update on the group’s major redevelopment projects.
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But now, vacancies are falling dramatically, thanks to private developer and investor, Africrest Properties, which has seen an opportunity to convert large office complexes in Sunninghill into âapartment communitiesâ.
The group, founded by Justin Blend and his brother Greg, is investing about R800 million in Sunninghill. Around half of this figure is linked to developing The Apollo, which the company says is one of the biggest office-to-residential conversions in South Africa currently.