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The Johannesburg Suburb Competing to Become the ‘New Sandton’

Published

11 months ago

June 12, 2023

The mixed-use suburb of Rosebank in North Johannesburg is experiencing significant growth.

Previously known as a corporate enclave located near the business district of Sandton, Rosebank has undergone a transformation as reported by Business Tech.

“Ten years ago, Rosebank was overshadowed by the monotony of 9 to 5 workplaces. But today, there is a surge in demand for Rosebank real estate, and it is considered an affluent area aligned with the desirable Sandton,” stated Johann du Plessis, Development Director at Feenstra Group.

The evolution of Rosebank has presented numerous exciting opportunities for developers and placemakers, evident in the ever-changing skyline. Joburg’s residents have also recognised Rosebank’s new outlook. With its advantageous location, thriving commerce, vibrant retail scene, rich cultural offerings, and enhanced safety, it’s no wonder that Rosebank is being touted as the suburb to watch in 2023.

Rosebank offers a wide range of amenities for work, leisure, and entertainment, with pedestrian-friendly streets ensuring safety.

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Corporate buildings such as The Bank and Rosebank Towers have undergone makeovers, while Rosebank Mall and The Zone@Rosebank have become popular destinations with upscale retail and entertainment options.

The area has also seen the emergence of a vibrant cultural and art scene, making it even more appealing for residents, according to du Plessis.

“The latest census revealed that Rosebank’s population has grown significantly by 69%, surpassing the growth of Craighall Park, Hyde Park, Illovo, and Sandown, which experienced smaller increases ranging from 11% to 17%,” du Plessis explained.

Rosebank’s residents have contributed to its affluent status, with an average household income ranging from R115,000 to R145,000, compared to R33,000 to R44,000 for Johannesburg as a whole.

Moreover, the local authorities have designated Rosebank as a priority development area, focusing on improving service delivery and infrastructure.

Estimates suggest that Rosebank has already attracted over R7 billion in investments in recent years.

“Rosebank is the place to be—a prime location that offers the perfect blend of bustling city vibes and convenience. So, what factors drive Rosebank’s success? Is it the amenities, pent-up demand, location, or inward investment? In my opinion, it’s a combination of all of the above,” concluded du Plessis.

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