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SUNDAY TIMES – Spotlight on Sandton

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Lushaka Investments, Mota-Engil Africa and Mercantile Bank form an alliance

CONSTRUCTION ACTIVITY AT CENTRAL SQUARE, SANDTON LAUNCHING THE POWERFUL TRIO OF LUSHAKA INVESTMENTS, MOTA-ENGIL AFRICA AND MERCANTILE BANK, THESE THREE COMPANIES HAVE COLLECTIVELY CREATED A PARTNERSHIP FOR THE CENTRAL SQUARE DEVELOPMENT IN SANDTON. As Sandton’s skyline becomes denser and higher, residential buildings are being sold and earmarked for AAA-grade commercial properties. As the demand for office space grows, so a shortage of quality residential property to meet the growing demand has become a new challenge. Central Square, a mixed-use development, headed by Sergio Aquino, CEO of Lushaka Investments, is situated in the exclusive suburb of Morningside – Sandton, ushers in a new era in elegant living. The refined apartments and convenient retail space will soon become the frontrunner in the ultra-luxury category of residential property in South Africa’s business nucleus. Identifying a gap between affordable and high-end residential property prices in the Sandton area, the development team on Central Square is entering the market...

ENGINEERING NEWS – CITY LIVING – Strong demand for new Sandton residential apartments

Development company Lushaka Investments, Portuguese civil construction group Mota-Engil Africa and banking firm Mercantile Bank collectively created a partnership for the development of the mixed-use Central Square development, located in the World Trade Centre building, in Sandton, Gauteng. The ‘tripartite alliance’ was announced at a media briefing in Sandton, earlier this month. “As Sandton’s skyline expands, residential buildings are being sold and earmarked for AAA-grade commercial properties. As the demand for office space grows, a shortage of quality residential property to meet the growing demand has become a new challenge,” says Lushaka Investments CEO Sergio Aquino. Identifying a gap between affordable and high-end residential property prices in the Sandton area, he notes that the development team on Central Square entered the market at around R33 000/m2, compared with the average R40 000/m2 rate in Sandton. The price of a 89 m2 one-bedroom apartment starts at R2.90-million at Central Square. “Offering 12 floors with 14...

Mercantile grants Lushaka R600m loan

Tripartite alliance brings to market Central Square mixed use development in Sandton

Launching the trio of Lushaka Investments, Mota­Engil Africa and Mercantile Bank, these three companies have collectively created a partnership for the Central Square development in Sandton. As Sandton’s skyline becomes denser and higher, residential buildings are being sold and earmarked for AAA­grade commercial properties. As the demand for office space grows, so a shortage of quality residential property to meet the growing demand has become a new challenge. Central Square, a mixed­use development, headed by Sergio Aquino, CEO of Lushaka Investments, is situated in the exclusive suburb of Morningside ­ Sandton, ushers in a new era in elegant living. The refined apartments and convenient retail space will soon become the frontrunner in the ultra­luxury category of residential property in South Africa’s business nucleus. Identifying a gap between affordable and high­end residential property prices in the Sandton area, the development team on Central Square is entering the market at around R33, 000 per sqm,...

Mercantile Bank structures R600m financing deal for Central Square mixed use development in Sandton

Mercantile Bank, a business bank inspired by entrepreneurs, has signed its single biggest lending transaction in its 50 year history. A R600­million loan was granted to a local property development company, Lushaka Investments. The Central Square will be the biggest mixed­use, high­end, apartment block development in Sandton, Johannesburg. Karl Kumbier, CEO at Mercantile Bank says no other second tier bank in South Africa would have been able to fund a transaction of this nature and size. “We are a small bank, in South Africa, but with big bank capabilities, therefore we were able to put together a sophisticated property development transaction in a very short period of time,” he says. “This is the type of tailored financing solution that typically only one of the big local banks would consider taking on.” Mercantile Bank was instrumental in structuring the overall financing solution to ensure that Lushaka Investments secured the total R600­million required to complete...