by Shane Henson — February 22, 2012—Murray and Roberts, a provider of engineering and design, construction, and project management services, was recently tapped for the construction of what will be the tallest building in the central business district (CBD) of Cape Town, South Africa.
Called the Portside, the project was awarded by FirstRand Bank, a provider of banking and insurance products and services to retail, commercial, corporate and public sector customers in South Africa and several African countries, and Old Mutual, an international long-term savings, investment and protection group, whose representatives signed the agreement for the $6 billion project in early February.
FirstRand CEO Sizwe Nxasana says Portside is an extension of the group’s commitment to investing in the development of Cape Town and the region, providing sustainable economic stimulus and creating much-needed jobs.
According to the terms of a co-development and ownership agreement concluded last year, half the landmark tower, with 32 floors, will house the provincial headquarters for the three divisions of FirstRand Bank—FNB, RMB and Wesbank. The remaining AAA premium-grade office space will be available for leasing through Old Mutual Property from the first quarter of 2014.
Occupying the city block between Buitengracht, Hans Strijdom, Bree and Mechau streets, in the emerging financial district on the Foreshore, Portside will offer a banking and retail area with easy access from all sides on the ground level.
Designed jointly by DHK and Louis Karol Architects, Portside will capitalize on views of Table Mountain and the bay. All floors have spectacular, all-round views, as the tower sits on top of a parking podium for 1,450 cars.
According to Murray and Roberts, the project team plans to submit the building for formal green star rating to the Green Building Council of South Africa.
