Murray And Roberts Will Build Cape Townís Tallest Building
Cape Townís new tallest building is set to start taking shape as construction group Murray and Roberts have been awarded the R1,6 billion contract to build the Portside Project. Itís set to stand at 130 metres tall, comprising of 32 floors, and will house 52 000 square metres of office space for 3 000 people.
CONSTRUCTION group Murray & Roberts (M&R) has been awarded a R1,6bn contract to build Cape Townís tallest building, the Portside Project.
Old Mutual and FirstRand are jointly funding the 32-storey skyscraper, which will accommodate the Western Cape headquarters of FNB, Rand Merchant Bank and vehicle financier WesBank.
Additional offices will be leased and are expected to be fully let by the time the building is completed in March 2014.
Representatives of FirstRand and Old Mutual Property signed the agreement appointing Murray & Roberts as the lead contractor on Monday.
FirstRand CEO Sizwe Nxasana said yesterday Portside was an extension of the groupís commitment to investing in the development of Cape Town and the region, providing sustainable economic stimulus and creating much-needed jobs.
Designed jointly by DHK and Louis Karol Architects to represent a "city in the sky", the Portside building will take up a full city block and is expected to capitalise on views of Table Mountain and the Atlantic Ocean.
The project is likely to be a boost for the local construction industry and is a substantial investment in the province.
The project, set to become a landmark tower in the emerging financial district in the foreshore area of the central business district, will have office space of more than 52000m≤ and a 1200m≤ banking and retail area.
Old Mutual Property MD Peter Levett said Portside illustrated the long-term nature of property investment, with the actual site assembly by the company taking place in two transactions nearly 20 years apart. The design was meant to provide Old Mutual and FirstRand with two distinct business addresses in the city.
Source: BusinessDay - M&R wins R1,6bn skyscraper deal
Update: Last four Weeks
Photos By: Lydon