In the next 15 years, a prime piece of real estate just off the N3 highway is expected to provide over 20,000 residential opportunities. This R18 billion, privately-owned, mixed-use mega city is currently under construction on land previously owned by the University of the Witwatersrand (WITs). 

Spanning 290 hectares of strategically-located land, this flagship development is set to tackle the city’s urgent demand for affordable housing. It’s also expected to pioneer modern commercial, retail, and industrial hubs.

Read on to learn more about how this transaction happened, and what it means for anyone interested in residential or commercial property.

From Frankenwald Estate to Smart City: The Rich History

The historic Frankenwald Estate is the site of the new Bankenveld District City. The holding is situated in Johannesburg and bordered by Alexandra, Marlboro and Kelvin. It was originally part of the holdings of mining Magnate Alfred Beit, who bequeathed it to the former Colony of the Transvaal in 1905. 

The deed of gift carried a strict condition. Beit had the ultimate goal of supporting a Transvaal university, and insisted that the land was to be used “solely and only” for educational and scientific purposes. Key milestones in the transition of the Frankenwald Estate from university land to Bankenveld District City include:

• 1987: Custodianship of the property was transferred to WITs.
• 2015: WITs initiated a public tender process to unlock the site’s immense development potential.
• 2016: The development tender was awarded to a consortium led by Eris Property Group and Calgro M3.  
• 2019: An official option to purchase the land was concluded. 
• 2024: Ownership of the Frankenwald Estate was officially transferred to Bankenveld City (Pty) Ltd., a powerful consortium comprising Eris Property Group, Calgro M3, Improvon, and Nedbank. 

A Powerhouse Partnership: Who is Building Bankenveld District City?

The delivery of this multi-billion-rand precinct relies on a strategic division of expertise between two of South Africa’s leading property developers:

• Calgro M3 is spearheading the installation of bulk and internal infrastructure. They lead the delivery of all residential components. 
• Eris Property Group will develop the commercial, retail, industrial, educational, and healthcare precincts. 

For many, the scale of Bankenveld District City positions it as a catalyst for economic growth and social integration. The development will feature approximately 450,000m² of office, retail, commercial, educational, healthcare, and special-use facilities, which has far-reaching implications for job-creation and enterprise growth. 

Bankenveld District City Timeline and Infrastructure 

Large-scale urban developments can only succeed with world-class foundational infrastructure. Calgro M3 is already moving ahead with critical enabling works on the ground, including the construction of new roads and bridges across the Jukskei River. These essential interventions are natural prerequisites to unlock the broader site. 

Substantial upfront investment in bulk services like reservoirs, electrical substations, sewer systems, and arterial roads is mandatory to the consortium before any residential rollout can begin. Key project milestones include:

• Phase 1 Infrastructure Completion: Scheduled for February 2027.
• Earliest Occupation Date: Expected from July 2027.
• Road Infrastructure Investment: R280 million allocated in the first phase alone to unlock roughly 6,000 residential opportunities.

Commercial Phase 1 Overview: What to Expect 

Phase 1 of the commercial rollout represents a massive capital injection into Bankenveld District City. Approximately R360 million is allocated to bulk and internal infrastructure for the first development parcels, including:

1. Data-Centre Anchor Tenant 

An 8.4 hectare parcel of land has already been sold to a major data center operator to strengthen the precinct’s economic base and drive long-term digital employment. 

2. High-Density Commercial Zoning

The broader commercial node within Phase 1 features 19 hectares of developable land, zoned primarily for Commercial 1 uses.

3. Targeted Development Bulk

The targeted development bulk for Phase 1 sits at approximately 95,000m², perfectly designed to accommodate a diverse mix of:

• Modern warehousing
• Logistics hubs
• Commercial offices
• Supporting retail and business uses

Capitalise on Northern Johannesburg’s Commercial Growth With PH Real Estate

Bankenveld District City is more than a property development. It’s a blueprint for future-proof, integrated South African cities. The project balances high-density affordable housing with a robust commercial and industrial ecosystem, and promises to become a vital economic stronghold for Northern Johannesburg. 

While the infrastructure progresses toward 2027, existing commercial hubs are ready for occupancy now. Whether you want modern logistics warehousing or an AAA-grade corporate office near the northern corridor, Paula Hardy Real Estate has the local expertise and deep market insights to find your ideal space. Browse our latest listings or reach out directly to our team to discuss your expansion plans. 

Photography by:  Wits University of The Frankenwald Estate prior to the sale