JSE-listed Growthpoint Properties and luxury property developer Tricolt Group have started construction at 81 200 m² mixed-use residential and retail development Olympus, in Sandton’s Summit district.

Olympus will comprise two towers, Athena and Apollo, reaching 24 and 20 storeys high, respectively.

The hospitality-led, mixed-use development comprises 527 high-end apartments, which are already 85% sold out, 30 rooms for a boutique Marble Group hotel, an exclusive restaurant, a sky bar with private dining, resort-style leisure facilities, landscaped sky gardens and a street-level Pantry offering by Marble that encompasses a deli and coffee shop.

Since announcing the development in February last year, Growthpoint and development partner Tricolt have recorded sales of more than R1.4-billion, which reflects strong demand for residential buildings in walkable mixed-use precincts that Growthpoint is creating at Sandton Summit.

Growthpoint South Africa CEO Estienne de Klerk says the group is shaping quality urban precincts where people can live, work and leisure in one integrated area. Olympus is located one block from Sandton City shopping centre and two blocks from the Sandton Gautrain station.

Construction on site has advanced with earthworks that include 44 000 m³ of soil being removed. With 28 000 m³ of concrete, 10 000 m² of glass facades and 46 000 m² of brickwork planned on site, Olympus will mark another defining feature of the Sandton skyline by February 2028.

The piling phase is scheduled to start in mid-March, which will mark the formal transition to structural construction.

Tricolt chairperson Tim Kloeck explains that the development would have been staged across phases for the two towers; however, owing to high demand, the construction of both towers is proceeding such that completion will be at the same time.

The architects of the development are dhk Architects and Saville Row Interiors, together with international award-winning architects Clark Hopkins Clark.

Barrow Construction is appointed as the main contractor for Olympus’ construction.

The apartment sizes range from studio-size, one-bedroom and two-bedroom apartments starting at R1.5-million. Among the first units that was sold is a R45-million 900 m² penthouse.