R1 billion funding secured for luxury mixed-use development in Cape Town CBD
The Paradigm is the kind of development that speaks directly to this market well positioned, well considered, and aligned with the expectations of today’s buyer.
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A funding agreement that will provide R1 billion for the development of a new luxury mixed-use residential development in the heart of Cape Town has been announced.
The Paradigm, located at 100 Buitengracht Street, will introduce 240 premium residences to the city centre, combining striking architecture, expansive views and a carefully curated lifestyle offering in one of Cape Town’s most prominent urban settings.
FNB and The Paradigm announced the conclusion of the deal on Wednesday.
Cape Town distinguish itself as one of SA’s most compelling property markets
“Cape Town continues to distinguish itself as one of South Africa’s most compelling property markets, supported by sustained demand, investment appeal, and a globally admired lifestyle, says Preggie Pillay, CEO of FNB Commercial Property Finance.
He says the Paradigm is the kind of development that speaks directly to this market, well-positioned, well-considered, and aligned with the expectations of today’s buyer.
He adds, “FNB is proud to support a project of this scale and quality. Our funding of The Paradigm reflects confidence not only in the development itself, but also in the continued strength and long-term attractiveness of the Cape Town market.”
Completion set for the third quarter of next year
The construction of the development, led by Vantage Property together with Tiber Construction, commenced in November 2024.
Designed by dhk Architects in collaboration with Fabian Architects, the project is scheduled for completion in the third quarter of next year.
“The Paradigm is a bold statement of confidence in Cape Town and in the future of its city centre, says José Rodrigues, director of Vantage Property. “We have set out to create a development of genuine quality and lasting significance-one that combines exceptional design and luxury living in a world-class urban position.”
He adds that: “Securing this funding with FNB is a major milestone for the project. It reflects the strength of the vision, the quality of the product and the confidence that leading institutions have in what we are building.”
Development offerings
The development will offer a range of bespoke amenities, including a seventh-floor swimming pool deck, 24-hour concierge and valet services, car-sharing and curated retail spaces designed to enrich the resident experience.
Clear pattern emerging in the luxury market at the moment: Cape Town leads high-value property transactions in SA
Last month, Finella Botes, the high-value property consultant at Seeff Atlantic Seaboard, wrote in a LinkedIn post that there is a very clear pattern emerging in the luxury market at the moment.
She said Cape Town continues to lead the way when it comes to high-value property transactions in SA. “Over 100 sales above R20 million in a single year is not a soft signal. It's a strong one.”
More importantly, she said, a significant portion of that activity is concentrated exactly where they work every day, the Atlantic Seaboard.
“Areas like the Waterfront, Clifton, Bantry Bay and Camps Bay are setting the benchmark. The fact that around 60% of these high-value transactions are happening along this stretch says a lot about where demand is sitting. And it's not just local.”
International buyers are still very much present
The high-value property consultant said international buyers are still very much present in this space, alongside strong demand from Gauteng-based clients.
“As Ross Levin pointed out, villas and apartments in particular are seeing consistent interest from high-net-worth buyers.
"Well-priced, well-positioned properties are still moving. The demand is there. But buyers know exactly what they're looking for, and they're not compromising.”
She said that spelt the real work, which is understanding the buyer and positioning the property correctly. “And knowing how to bring the two together. Because in this segment of the market, it's never just about listing a property. It's about getting it right.”
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