Exciting developments are brewing in Johannesburg, with the launch of the R18 billion Bankenveld District City— a monumental joint venture between Calgro M3 and Eris Property Fund, a subsidiary of Momentum. This ambitious integrated urban development project is set to transform the landscape of Johannesburg, with a whopping 20,000 residential units planned by Calgro M3, while Eris will be in charge of constructing an expansive 600,000 square meters dedicated to retail, office spaces, educational and medical facilities, including a state-of-the-art 30,000 square meter shopping center.
What makes Bankenveld especially compelling is its strategic location, nestled conveniently between the bustling areas of Sandton and Waterfall. The project’s easy access via key routes such as the M1, N3, and the Marlboro Gautrain station positions it to become a vibrant hub of activity, enhancing both accessibility and affordability for future residents. This initiative doesn’t just focus on housing; it’s about creating a sustainable urban living experience that embodies the needs of its community.
The initial phase of infrastructure development kicked off in the second quarter of 2025, laying the groundwork for what promises to be a flourishing community. While housing construction is slated to commence three years into the project, Calgro M3 emphasizes that Bankenveld is a perfect fit with Johannesburg’s urban densification strategies. The goal is clear: to provide long-term socio-economic benefits while simultaneously addressing the pressing need for safe and accessible housing options.
Bankenveld isn’t the only exciting project on the horizon for Calgro M3; it is part of a larger pipeline that encompasses Fleurhof, South Hills, and Belhar, collectively poised to create over 35,000 housing opportunities in the coming years. These efforts align with local and national goals to enhance urban living and promote smart growth.
While Calgro M3 has faced some financial hurdles recently, with revenue dipping 32.7% to R869 million and profits decreasing by 15.2% to R166 million, the group is proving resilient. Its memorial parks segment—a business venture initiated in 2017—has thrived, showcasing revenue growth of 41.2%, which now contributes significantly to the company’s overall profits. With a valuation of R2.7 billion and projected turnover exceeding R2.5 billion, this segment highlights Calgro’s adaptability and potential for future success.
As Johannesburg continues to evolve, the Bankenveld District City stands as a beacon of hope and progress, a project that promises to shape the urban fabric of the city for years to come. #SouthAfrica #WorldNews #BusinessNews #Tourism #Lifestyle
