SA Commercial Prop News - The principal building contract for what will be Cape Town’s tallest CBD building, the Portside co-development by FirstRand Bank and Old Mutual, has been awarded to Murray and Roberts.
Representatives of FirstRand and Old Mutual Property signed the agreement appointing Murray and Roberts for the R1,6 billion project in Cape Town on 13 February 2012.
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.
In 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 25 000m² of AAA premium grade office space will be available for leasing through Old Mutual Property from the first quarter of 2014...Read More
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