Growthpoint Properties (JSE: GRT), South Africa’s largest Real Estate Investment Trust (REIT), has entered into a strategic partnership to co-develop the Cape Winelands Airport precinct. The airport, located on the site of the former Fisantekraal airfield, is set to become the Western Cape’s next-generation aviation, logistics, hospitality and industrial hub.
Growthpoint, which co-owns Cape Town’s V&A Waterfront and manages property assets worth R155.8 billion, will use its expertise in large-scale, tourism-driven precincts to support this project. The 450-hectare development is designed to strengthen regional trade, logistics and tourism infrastructure.
Partnership and Development Roles
Under the agreement, Growthpoint assumes responsibility for long-term property and asset management across the precinct’s logistics, commercial and hospitality elements. While excluding the terminal buildings, Growthpoint will have the right of first refusal on future property investments. The company will also oversee the main contractor, ensuring strong governance, financial discipline and sustainable development delivery.
Nicholas Ferguson, Managing Director of RSA Aero, owner of Cape Winelands Airport, described the partnership as transformational. He noted that Growthpoint brings the institutional capital and delivery capacity required to create a global-standard airport precinct that will serve the region for generations.
Driving Economic Growth and Tourism
Growthpoint CEO, Norbert Sasse, highlighted the project as a “catalyst for long-term value creation” that enhances South Africa’s growth story. The airport is expected to sustain 35,000 direct and indirect jobs, with over 100,000 jobs projected during its first 20 years. An initial R8 billion investment will deliver the terminal, runway and estate development.
Drawing from its success with the V&A Waterfront, Growthpoint emphasised the economic multiplier effect of tourism and foreign direct investment. Werner van Antwerpen, Head of Corporate Advisory, explained that strong tourism infrastructure not only creates jobs but also drives city growth and community benefits.
Sustainability and Future Vision
Sustainability lies at the core of the Cape Winelands Airport project. Growthpoint, a leader in environmental, social and governance (ESG) practices, will guide the airport’s carbon-neutral strategy. The precinct will rely heavily on renewable energy and water reuse systems, aiming to be the “greenest airport in the world.”
Construction could begin in 2026, subject to environmental approvals. Development will roll out in phases, starting with the runway and safety infrastructure, followed by the terminal and industrial precincts. The airport is projected to open by 2028, with a long-term target of accommodating over five million passengers annually by 2050.
A Gateway for the Western Cape
Once operational, Cape Winelands Airport will serve as a second major gateway for the province, relieving pressure on existing aviation infrastructure. It will reduce costs for operators, lower carbon emissions, and attract both local and international visitors to the Cape’s wine region.
The development is also positioned as a new hub for business and hospitality, supporting the region’s expanding economy and anchoring investment along the Cape Winelands corridor. Ferguson concluded that the partnership with Growthpoint goes beyond building an airport—it establishes a long-term platform for investment, innovation and opportunity in the Western Cape.
