JSE-listed property giant Growthpoint Properties has taken an initial stake in the development of the Cape Winelands Airport precinct — a multibillion-rand infrastructure project that aims to become the Western Cape’s next major aviation, logistics and tourism hub.
The real estate investment trust (Reit), which co-owns the V&A Waterfront and manages a R155.8bn property portfolio across retail, office and industrial sectors, has secured the right to co-invest in and develop the 450-hectare precinct alongside privately owned operator RSA Aero.
Once operational, the airport is expected to become a second major gateway into the province, alleviating congestion, reducing operating costs and positioning the Cape Winelands corridor as a key engine of regional growth, Growthpoint said.
Under the agreement, Growthpoint will oversee the development’s commercial, logistics and hospitality components — excluding the terminal buildings — and assume long-term property and asset management responsibilities.
“This partnership represents a step-change for Cape Winelands Airport. Growthpoint brings the institutional foundation and delivery capacity needed to build an airport precinct of global quality that will serve the region for generations,” said MD of RSA Aero, Nicholas Ferguson.
Environmental approvals needed
However, the project still requires environmental approvals before construction can commence, with ground expected to break in 2026. The airport is targeting operational readiness by 2028, with plans to accommodate more than 5-million passengers annually by 2050.
The Cape Winelands Airport development is expected to add more than 100,000 direct and indirect jobs over its first 20 years and represents a potential R8bn capital injection during its initial build phase.
Key Takeaways
- Growthpoint Properties takes initial stake in Cape Winelands Airport development.
- 450ha precinct to become a major aviation, logistics & tourism hub in the Western Cape.
- Growthpoint to co-develop commercial, logistics & hospitality components.
- Project awaits environmental approval; construction expected to begin in 2026.
- Airport aims to handle 5-million passengers annually by 2050
- 100,000+ jobs projected over 20 years.
According to Growthpoint, the project, centred on the redevelopment of the Fisantekraal Airfield near Cape Town, forms part of a long-term strategy to ease pressure on Cape Town International Airport while positioning the region for expanded trade and tourism flows.
The new precinct will also feature a commercial airport, logistics and industrial nodes, hospitality offerings and renewable infrastructure — with sustainability embedded across all phases of development.
The Reit will also act as principal on construction oversight, ensuring institutional-grade governance, financial controls and ESG compliance across the build.
“It will also support Cape Town’s natural northern expansion — the only viable direction for future development — by anchoring new infrastructure and unlocking commercial density,” the group said.
Growthpoint Group CEO Norbert Sasse said: “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 SA’s broader growth story.”
Sasse said that Growthpoint’s commitment to Cape Winelands Airport aligned with the group’s purpose of creating space to thrive. While centred on aviation, this is about unlocking inclusive growth, enabling enterprise and setting new benchmarks for sustainable development.
“The airport aims to be one of the greenest in the world, with a carbon-neutral design powered largely by renewables and supported by water reuse systems.
“Growthpoint’s ESG leadership will help shape the precinct’s sustainability framework, with its net-zero ambitions aligned to the group’s 2050 carbon-neutral target,” the group said.
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