Investments and confidence in Cape Town’s Inner City are soaring, with multiple new developments adding new life to the CBD.
An initiative, founded by former Wesgro CEO Tim Harris, is seeking to shine the spotlight on this revitalisation of the inner City.
Mission for Inner City Cape Town says the CBD is welcoming businesses back, and with them, a wave of private investment that is reshaping public life.
Harris says from Massmart and Ultraviolet Gallery setting up in town, to asset managers Ninety One reaffirming its long-term commitment to the CBD through the refurbishment and new lease of its South African headquarters, the message is clear: the future of Cape Town’s economy is inseparable from the future of its Inner City.
“Businesses aren’t just moving their offices back into the city, they’re moving their capital into the public spaces around them. That’s what makes this moment historic. Corporate investment is making Cape Town’s heritage live again while unlocking long-term economic value for the city and for business.”
For Ninety One, a renewed long-term commitment to its South African headquarters in the Inner City comes with a three-year partnership with The Mission.
Ninety One CEO Hendrik du Toit reflects, “As a global investment manager with deep South African roots and a major presence in Cape Town, Ninety One’s commitment to the Inner City is both personal and professional. We are investing well over half a billion Rand into the CBD through the refurbishment and new lease of our SA headquarters.”
“Partnering with The Mission is about backing Cape Town’s heritage while helping to build a vibrant, modern Inner City that works for everyone. If we do not invest in the future of our city and our country, who will?”
Dylan Culhane from Ultraviolet Gallery adds, “Opening Ultraviolet in a century-old heritage building in the heart of Cape Town is about more than finding a gallery space; it’s about being part of the city’s renewal. Every brick here tells a story, and by adding the voices of local photographers, we’re helping to write the next chapter of Cape Town’s creative identity.”
“Every project signals that Cape Town is not a city in retreat, it’s a city on the rise,” says Harris.
“When companies choose to come back downtown, they’re not only reshaping the office market, they’re reshaping the entire experience of city life.”
This revival of the inner City echoes the results of the latest CCID State of Cape Town Central City Report 2024.
Now in its 13th year, the report has revealed how investor confidence in the Cape Town CBD soared in 2024/25, with the total value of property development exceeding R9.031 billion – up from R7.285 billion recorded in 2023 – an extraordinary figure for an area of just 1.6 square kilometres.
CCID Chairperson Rob Kane says that both residential and commercial properties are proving strong investments.
The CBD now has nearly 7,000 residential units, with new residential builds, renovations and mixed-use developments worth close to R3 billion dominating the property pipeline.
Demand for office space is being fuelled by semigration, strong local governance and the thriving business process outsourcing sector.
He adds that the number of businesses in the CBD hit a record high of over 1300 in 2024, with 45 new retail outlets opening their doors.
Cape Town’s CBD remains South Africa’s most successful and attractive city centre for investors, developers, and businesses.
