Business
Menlyn’s R850 Million Upgrade from Offices to Homes
From Desks to Designer Living: Menlyn’s R850 Million Shift to Homes
South Africa’s skylines are changing. In Pretoria’s popular Menlyn precinct, two major developers have decided that the days of empty office parks are over. Instead of forcing a comeback for outdated workspaces, they are spending R850 million to give them a completely new life.
The rise of liveable cities
Pareto and Divercity Urban Property Group have launched a huge redevelopment inside Menlyn Office Park that will deliver more than 1,200 apartments. Around 460 units are coming from the creative conversion of existing low-rise office buildings. The rest will be built as brand-new apartment blocks, climbing up to ten storeys high.
Construction has already kicked off, and there is a clear goal in sight. The developers want to nurture a walkable neighbourhood where residents can live close to transport, shopping, and work. With Menlyn Park Shopping Centre on the doorstep, plus major highways and Gautrain bus routes nearby, the location already ticks the convenience boxes.
A bold first move for a retail giant
Pareto is no small name. It owns many of South Africa’s biggest and busiest malls, including Sandton City, Cresta, and Menlyn Park. These spaces power retail growth and support thousands of jobs. Yet this marks the company’s very first residential development.
The shift is intentional. Pareto’s leadership says they want to create long-term value in neighbourhoods where people increasingly choose to live, shop, and relax in one connected place. They believe Menlyn is exactly that kind of place.
Why Menlyn and why now
The trend is impossible to ignore. Offices across South Africa have been sitting with empty desks, especially since hybrid and remote work have become the norm. Meanwhile, the hunger for rental housing near quality amenities keeps rising.
Divercity’s role in this partnership makes perfect sense. The company has already helped shape successful mixed-use areas like Jewel City and Barlow Park. It manages more than 9,250 rental homes nationwide and has a further R3 billion pipeline in motion.
Menlyn itself has seen rapid growth, sparked by the success of Menlyn Park and the sleek Menlyn Maine precinct. Many young professionals want a lifestyle that involves living without long commutes or heavy traffic. This project offers exactly that and keeps tenants surrounded by greenery and over 400 restaurants, shops, and everyday services.
A sign of where South African property is heading
This development reflects a bigger national pivot. Investors are placing more confidence in multifamily rental housing, an asset class already well established internationally. Occupancy levels are above 95 percent in this segment, and bad debt sits below one percent. In short, demand remains significantly higher than supply.
The Menlyn transformation shows how older commercial buildings can become valuable again. It also shows how cities evolve when people’s needs evolve first.
A new chapter begins
From its location off Lois Avenue, near key N1 interchanges at Atterbury and Garsfontein, the precinct has everything going for it. Tenants such as Standard Bank and Voetspore once called it home. Soon, it will welcome a new generation of residents who prefer to live a little closer to the action.
It feels like the start of a fresh real estate story in South Africa. One where the future is not built on office cubicles, but on communities.
Also read: South Africa’s JSE Stuns Global Markets With a Leading Performance in 2025
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Source: Business Tech
Featured Image: SME South Africa
