Development update on Riversands Commercial Park

“It’s gratifying to watch the transformation of empty veld into Riversands Commercial Park. This development means greater economic activity on the doorstep of the small businesses at Riversands Incubation Hub as well as more new jobs for local residents,” said Jenny Retief, CEO of Riversands Incubation Hub.

The plan for Riversands Incubation Hub was to be a space for SMEs within a broader commercial development to connect the hub to markets and a whole range of business opportunities. Being at the heart of the Riversands Commercial Park allows entrepreneurs to mainstream their businesses, serving customers from all market segments as well as providing employment and business opportunities to Diepsloot residents.

The concept behind Riversands Commercial Park

Strategically located a short distance north of Fourways, Riversands Commercial Park is the brainchild of Century Property Developments, and is already redefining commercial parks in Southern Africa.

According to Mark Corbett, CEO of Century Property Developments, the park will be developed as a secure complex with a variety of precincts allowing for light industrial spaces, warehousing, storage, showrooms, retail centres, commercial office space, schools, outdoor recreational spaces, as well as residential lifestyle apartments, all spanning over 240 hectares.

Breaking ground

There are two initial major projects underway: The Parks and Riversands Outlet Park.

The Parks is a large residential estate with 1 880 units at an affordable price point. The Parks will offer all the lifestyle benefits that are synonymous with a Century development – top security, wifi, fitness boot camps, art classes and ample recreation benefits.

Riversands Outlet Park, with more than 50 000 m² of lettable space, will offer office, showroom, warehouse and light industrial spaces. These premises tick all the boxes in terms of accessibility, visibility, technology and security. First occupation will take place in September 2019.

Economic benefit for the area

Century is currently negotiating with two potential tenants which will generate approximately 1 000 jobs for the area.

In support of entrepreneurial development, Century will offer Riversands Incubation Hub graduates a 50% saving on rent in this new park, with the discount being valid for three years. This special offer offers high-grade premises at a fraction of what would be available on the open market.

A key factor for the success of the broader park is accessibility. Once fully developed, the entire commercial park will have both cycle paths and walking paths to provide access to ensure pedestrian and bicycle access to Diepsloot residents. Walking paths have also been included in the William Nicol upgrade – this will greatly reduce transport costs for Diepsloot residents.

The road ahead

These are exciting times for Riversands Incubation Hub. Firstly, the leadership team is focused on supporting SMEs to benefit from the business opportunities from the build out and other potential ongoing contracts once the development is completed. “While we cannot guarantee contracts, we walk the road with SMEs helping them ladder up to larger scale deals.

“Secondly, we are considering how to best integrate the Hub’s activities and services with our new business and residential neighbours. We are located in a prime position within a premium commercial park – we intend to make the most of it,” concluded Retief.

Riversands Incubation Hub is a large-scale business incubator established in 2015 through a partnership between Century Property Developments and National Treasury’s The Jobs Fund. The hub is currently home to over 160 small businesses, with many more entrepreneurs supported through business development programmes and support services.

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