SA’s next generation aviation hub secures initial investment, development and managing partner
Growthpoint Properties, South Africa’s leading Real Estate Investment Trust (REIT), has made an initial investment with the right to co-invest and develop the new Cape Winelands Airport precinct, marking the start of a strategic partnership to deliver the Western Cape’s next-generation aviation, hospitality and industrial hub.
Growthpoint, which co-owns Cape Town’s signature V&A Waterfront and holds group property assets to the value of R155.8 billion across retail, office and logistics properties, brings deep experience in large-scale, mixed-use and tourism-led precincts to the development of Cape Winelands Airport precinct. The privately-owned airport, set to be developed on the site of the airfield previously known as Fisantekraal, is designed to strengthen the region’s logistics, trade and tourism infrastructure.
The property group’s initial investment is one of several pillars in a long-term partnership for the design, development, delivery and management of the properties within the Cape Winelands Airport precinct. Under the agreement, Growthpoint will assume long-term property and asset management responsibilities across the 450-hectare 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. It will also oversee the development’s main contractor to ensure institutional standards in transparent governance, financial discipline, positive environmental and social impact integration and development delivery.
Partnering for pioneering regional growth
Nicholas Ferguson, Managing Director of RSA Aero, the company that owns and operates Cape Winelands Airport, says, “This partnership represents a step-change for Cape Winelands Airport. 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.”
The uniquely qualified Cape Winelands Airport team will lead aviation strategy and master planning of the international aviation hub while Growthpoint contributes institutional capital, property expertise and sustainability leadership. Together, they aim to develop a commercially driven world-class airport precinct that meets rising aviation demand, strengthens regional trade and tourism connectivity, while exemplifying sustainability.
Norbert Sasse, Group CEO of Growthpoint Properties, comments, “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. We are pleased to take part in this opportunity and to contribute to Cape Town’s and South Africa’s sustainable growth.”
The success of the V&A Waterfront – one of Africa’s most visited destinations – provides Growthpoint with first-hand insight into how well-planned tourism infrastructure can drive inclusive economic growth.
“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,” notes Werner van Antwerpen, Growthpoint Properties’ Head: Corporate Advisory. “When tourism infrastructure works sustainably and at scale, jobs follow, cities thrive and communities benefit.”
A new platform for sustainable aviation and development
The airport is expected to sustain approximately 35,000 direct and indirect jobs and could sustain just over 100,000 direct and indirect jobs during its initial 20 years of operation. The development represents an expected initial investment of approximately R8 billion in Cape Town, which will deliver the terminal buildings, runway and a 450-hectare developable estate.
Growthpoint’s initial and right to future investments aligns with its South African capital allocation strategy, which prioritises outperforming locations, precincts and property sectors, including Cape Town and modern logistics facilities, while driving sustainability initiatives towards the goal of carbon neutrality by 2050.
Cape Winelands Airport aims to be the greenest airport in the world, embedding sustainability at every phase of development. It will function largely with renewable energy and be supported by water reuse systems, driving a carbon-neutral agenda. Growthpoint’s established environmental, social and governance (ESG) leadership will guide the project’s sustainability framework.
“Our commitment to Cape Winelands Airport aligns with Growthpoint’s purpose of creating space to thrive. The project is centred around aviation, but it’s also about unlocking inclusive growth, enabling enterprise and setting new standards for sustainable development,” notes Sasse.
Pending Environmental Impact Assessment approvals, construction of Cape Winelands Airport could begin in early 2026. The development will proceed in phases, starting with runway and safety infrastructure, followed by 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 annually by 2050. The full rollout will unfold over more than two decades, in step with the region’s evolving growth and infrastructure needs.
Infrastructure for the Western Cape’s future
Once operational, Cape Winelands Airport will serve as a second major aviation gateway for the province, easing pressure on existing infrastructure, reducing costs and carbon emissions for operators and welcoming local and international tourists to the Cape’s renowned winelands.
The new airport will also become a new hub for business, hospitality and tourism, supported by the area’s expanding population, dynamic economy and exceptional setting. It will anchor new investment along the Cape Winelands corridor and support Cape Town’s natural expansion northwards – its only viable growth route – with infrastructure necessary for the success of the city’s next chapter.
“This partnership ensures the Cape Winelands Airport precinct is backed by South Africa’s most credible property investor. Together with Growthpoint, we’re not just building an airport – we’re building a long-term platform for investment, innovation and opportunity in the Western Cape,” concludes Ferguson.
