R850m Menlyn residential precinct breaks ground: 1,200 new apartments to Tshwane

• Major Menlyn redevelopment to deliver 1,200 apartments through conversions and new builds.
• Joint venture between Pareto and Divercity, co-owned 50/50, next to Menlyn Park Shopping Centre.
• First residents expected from 2027 as demand in the Menlyn mixed-use node accelerates.

A new residential era begins in Menlyn

‍A significant new chapter is underway in one of Tshwane’s fastest-growing mixed-use precincts. Pareto Limited and Divercity Urban Property Group have officially broken ground on the R850 million redevelopment of Menlyn Office Park, transforming the well-located office asset into a modern residential precinct comprising 1,200 apartments.

The sod-turning follows a highly competitive request-for-proposals process through which Pareto selected Divercity as its residential development partner, marking the start of a long-term collaboration between two of South Africa’s most influential property groups.

Situated immediately adjacent to the iconic Menlyn Park Shopping Centre, the country’s largest super-regional mall—the development positions residents at the heart of a thriving, rapidly urbanising node that continues to attract investment, retail expansion and new mixed-use activity.

What the developers are saying

Malose Kekana, Group Chief Executive Officer of Pareto, says the project reinforces the group’s strategic vision for the precinct:

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“This development signals our commitment to shaping the next chapter of the Menlyn precinct. By introducing high-quality residential options next to one of South Africa’s premier malls, we are creating a vibrant, connected node that reflects how people increasingly want to live, work and spend their time.”

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Carel Kleynhans, Chief Executive Officer of Divercity, highlights the strength of the partnership:
“We are thrilled to begin this new relationship with Pareto with such a meaningful and exciting project.”

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The Menlyn node has seen strong momentum over recent years, fuelled by the success of Menlyn Park Shopping Centre and escalating demand for well-located rental living close to jobs, transport, lifestyle, retail and entertainment.

Development Snapshot

• Project Name: Menlyn Office Park Residential Redevelopment
• Location: Adjacent to Menlyn Park Shopping Centre, Menlyn, Tshwane
• Developers: Pareto Limited & Divercity Urban Property Group
• Ownership: 50/50 joint venture

Unit Mix

• 460 apartments through office-to-residential conversions
• 740 new-build apartments across four new buildings up to 10 storeys

Amenities & Features

• Walkable access to over 400 stores, services and restaurants
• Landscaped, tree-rich green surroundings
• Access to the broader Menlyn Maine mixed-use environment
• Professional rental management by Ithemba Property Management
• Proximity to major transport routes and economic nodes

Timeline

• Conversions and new builds progressing in parallel
• First units scheduled for delivery in 2027

Pareto Limited

‍A leading investor, owner and developer of South Africa’s premier regional and super-regional shopping centres, Pareto owns landmark assets including Sandton City, Menlyn Park, Cresta, Pavilion and Tyger Valley. With a national portfolio spanning multiple provinces, as well as investments in Europe, Pareto plays a major economic role in job creation, retail growth and urban placemaking.

Divercity Urban Property Group

‍Divercity is South Africa’s foremost investor in high-quality, well-located rental housing precincts. With more than 9,250 apartments and a R3bn development pipeline, Divercity specialises in central, connected, mixed-use neighbourhoods supported by retail, office and education spaces.

A catalyst for a connected, walkable Menlyn

‍The redevelopment of Menlyn Office Park into a full-scale residential precinct marks a decisive shift in the evolution of the Menlyn node from a traditional commercial environment to a fully integrated live-work-play urban destination.

With a strategic partnership behind it, a powerful location, and rising demand for modern rental living in Tshwane, this project is set to become a defining asset in South Africa’s residential landscape.

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