Cape Town’s long-awaited second international airport has gained a big-time investor and developer.
Growthpoint Properties, South Africa’s largest real estate investment trust (REIT) and co-owner of the V&A Waterfront, has announced an initial investment to co-develop the Cape Winelands Airport precinct.
The deal marks a key milestone for the privately owned airport, formerly known as Fisantekraal Airfield, which aims to become a next-generation aviation and mixed-use hub in the Cape Winelands.
Cape Winelands Airport bags big investor
Pending environmental approvals for the new airport, construction could begin as early as 2026.
“The Environmental Impact Assessment is currently with the Department of Environmental Affairs and Development Planning, and we’re now awaiting the outcome,” Cape Winelands Airport spokesperson Deirdre Davids said, as per Time Out.
Under the new partnership, Growthpoint will not only invest capital but also play a long-term role in property and asset management across the precinct, excluding the terminal buildings.
The REIT will also have first right of refusal to co-invest in future developments within the project and will oversee the main contractor to maintain institutional standards in governance, environmental and social impact, and delivery.
Known for its success in large-scale tourism and property developments, Growthpoint’s involvement is seen as a major credibility boost for the ambitious project.
A multi-billion rand investment
Deon Cloete, Managing Director of Cape Winelands Airport, also recently said that the Airport team had already engaged with several funders for the project. The initial build is expected to cost between R8 billion and R10 billion.
“Airports are expensive because you put a lot of investment into the ground, but once you get it there, it will work for you for many years. It is about creating it.” he said.
If approvals and funding line up, construction of the new Cape Town airport would take around two years, with Cloete adding that they were probably looking at a 2028 opening.
