Cape Winelands Airport precinct backed by Growthpoint Properties

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17-10-2025
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Property Wheel
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Growthpoint Properties has made an initial investment with the right to co-invest in and develop the new Cape Winelands Airport precinct.

The project represents an expected initial investment of approximately R8 billion which will deliver the terminal buildings, runway, and a 450ha developable estate.

Under the agreement, the REIT will assume long-term property and asset management responsibilities across the 450ha aviation precinct’s logistics, commercial, and hospitality components (excluding the terminal buildings) with the right of first refusal to co-invest in future property developments. It will also oversee the development’s main contractor to ensure institutional standards in transparent governance, financial discipline, positive environmental and social impact integration and development delivery.

The Cape Winelands Airport team will lead aviation strategy and master planning of the international aviation hub.

“Cape Winelands Airport and its visionary partners have set in motion a powerful catalyst for long-term value creation and a legacy asset for the Western Cape that enhances South Africa’s broader growth story. We are pleased to take part in this opportunity and to contribute to Cape Town’s and South Africa’s sustainable growth,” comments Group CEO of Growthpoint Properties, Norbert Sasse.

Pending Environmental Impact Assessment approvals, the construction of Cape Winelands Airport could begin in early 2026 in phases – starting with runway and safety infrastructure, followed by the terminal, cargo, and industrial precincts. On this timeline, the airport is targeted for commissioning by 2028 with capacity for more than 5 million passengers annually by 2050.

The airport is expected to sustain approximately 35 000 direct and indirect jobs and could sustain just over 100 000 direct and indirect jobs during its initial 20 years of operation.