The Cape Winelands Airport project has secured an investment, development and managing partner in the form of Growthpoint Properties. Growthpoint has made an initial, undisclosed investment in the project, and holds the right to future investments as well.

The privately-owned airport, 13 km north-east of Durbanville, is set to be developed on the site of the airfield previously known as Fisantekraal.

RSA Aero will own and operate the airport.

Under the agreement between the two entities, Growthpoint will assume long-term property and asset management responsibilities across the 450-ha aviation precinct’s logistics, commercial and hospitality components, which excludes the terminal buildings, with the right of first refusal to co-invest in future property developments.

The JSE-listed property group will also oversee the development’s main contractor to ensure development delivery. 

“The Cape Winelands Airport team will lead aviation strategy and master planning of the international aviation hub, while Growthpoint will contribute institutional capital, property expertise and sustainability leadership,” say RSA Aero and Growthpoint in a joint statement.

Growthpoint, which co-owns the V&A Waterfront and holds group property assets to the value of R155.8-billion, has noted experience in developing large-scale, mixed-use and tourism-led precincts.

“This partnership represents a step-change for Cape Winelands Airport,” says RSA Aero MD Nicholas Ferguson.

“Growthpoint’s partnership provides the institutional foundation and delivery capacity needed to build an airport precinct of global quality that will serve the region for generations to come.”

“Cape Winelands Airport and its visionary partners have set in motion a powerful catalyst for long-term value creation and a legacy asset for the Western Cape that enhances South Africa’s broader growth story,” notes Growthpoint Properties CEO Norbert Sasse.

“Tourism and foreign direct investment are powerful economic multipliers that go hand in hand and we, as Growthpoint, have the opportunity to influence the tourist experience at both the Cape Winelands Airport and the V&A Waterfront,” adds Growthpoint Properties corporate advisory head Werner van Antwerpen.

“When tourism infrastructure works sustainably and at scale, jobs follow, cities thrive and communities benefit.”

Pending environmental impact assessment approvals, construction of the Cape Winelands Airport could begin early next year.

The R8-billion development will proceed in phases, starting with runway and safety infrastructure, followed by development of the terminal, cargo and industrial precincts.

On this timeline, the airport is targeted for commissioning by 2028, with capacity for more than five-million passengers a year by 2050.

The full rollout will unfold over more than two decades.