Work has started on revamping a mall that was once viewed as the gateway to Cape Town, South Africa.

Situated next to one of South Africa’s busiest commuter hubs, the Golden Acre Precinct is undergoing a ZAR1.2 billion revamp by owner Putirex, which acquired the complex for about ZAR781 million in 2025.

Work started on converting the precinct’s 24-storey office tower into rental accommodation in January 2026, according to Engineering News.

Bizcommunity reports that work to modernise the retail component of the project is now under way. The plans envisage new trading areas, revamped fabric and finishes and improved pedestrian flow and safety. The mall provides a vital link between the Cape Town train station, as well as taxi ranks and bus stations, to the CBD

‘The Golden Acre has always been a gateway to Cape Town,’ says Lesego Majatladi, director of Gracht Asset Managers. ‘By commencing the retail phase, we are moving closer to our vision of a precinct that balances heritage and mobility with modern, dignified urban living for the working professionals who make our CBD thrive.’

The office tower is being reconfigured into 414 affordable rental units, priced approximately 30% below current market rates.

The residential development – to be managed by lifestyle-focused mixed-use developer Neighbourgoods – will also include a 6 000 m² communal garden and lifestyle clubhouse facility.

The entire redevelopment of the precinct is expected to be complete in 2027.

7 April 2026
Image: Freepik