With over R1.2bn in sales, Olympus Sandton breaks ground

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02-12-2025
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Moneyweb
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In one of the Sandton CBD’s biggest developments in almost a decade, the R2 billion Olympus Sandton high-rise luxury apartment project broke ground last week, following joint venture partners Tricolt and JSE-listed Growthpoint Properties securing over R1.2 billion in sales to date.

The twin-tower development has seen such demand that both towers are expected to be developed simultaneously, marking a positive turn for Sandton Central, which has seen few construction cranes in recent years.

Houghton-headquartered Tricolt says the flagship luxury residential development “is set to elevate the Sandton skyline and redefine mixed-use living in Johannesburg’s most prestigious urban precinct”.

Olympus Sandton also falls within Growthpoint’s ambitious new Sandton Summit mixed-use precinct, which surrounds the landmark Discovery head-office that Growthpoint jointly owns with Zenprop.

“With 420 of the 529 units already sold, and R1.2 billion in sales secured within eight months of launch, Olympus Sandton stands out as one of the fastest-selling residential developments in the area’s recent history,” says Tricolt.

“The accelerated unit sales prompted the developers to fast-track construction, with both towers being built simultaneously as opposed to in phases. Building both towers concurrently ensures residents enjoy full amenities from day one,” the group notes.

“Located in the emerging Sandton Summit Precinct, the development occupies the precinct’s highest elevation, offering unmatched 360-degree views and forming the primary gateway into Sandton,” it adds.

Moneyweb first broke the news of the development plans for Olympus Sandton in December 2024, ahead of the sales launch to the market in February this year. The project is Growthpoint’s first apartment development in Sandton, with Tricolt as a JV partner. It has developed apartment complexes in the coastal cities of Cape Town and Durban, located at the V&A Waterfront and adjacent to its La Lucia Mall property, respectively.

Tricolt says construction on Olympus Sandton will take approximately 26 months, with an estimated completion date in early 2028.

“Designed by Australian-based firm ClarkeHopkinsClarke Architects in collaboration with DHK in South Africa, the towers feature an alternating twist geometry that creates a dynamic visual rhythm and optimises views,” it adds.

“The site’s position on the ridge places Olympus Sandton at the literal and figurative pinnacle of Sandton,” says Aram Lello, head of design for Tricolt Group.

“It is embedded within a future-focused, walkable, live-work-play precinct. As you crest the rise into Sandton, the two towers will appear sculptural and dynamic, an iconic entry point into the city.”

‘Sandton revival’

Neil Schloss, SA head of Asset Management at Growthpoint Properties, comments: “As South Africa’s cosmopolitan business capital, Sandton is undergoing a revival and Olympus Sandton is rising with it.

“Accelerated by strong sales, this development reflects our strategy to unlock prime value through market-aligned, mixed-use spaces where people want to live, work, and connect.”

According to Tricolt, they have secured the sale of the penthouse in tower one “for a base price of R40 million, while the estimated final value of the property with upgrades is expected to be R44.45 million”.

The group adds: “Olympus Sandton’s buyer profile is split between 70% local buyers and 30% international buyers, while 75% of owners are investors and the remaining 25% owner-occupiers.”