Cape Town’s Foreshore is set for a major new R2.5 billion private-sector investment with the development of ThirtyFour18, a 35-storey residential landmark that has received the support of the City of Cape Town and is preparing for its public launch in November.
WORDS & PHOTOS: SUPPLIED
The scale and timing of the development signal continued confidence in Cape Town as an investment destination, with ThirtyFour18 bringing a significant new residential offering to one of the city’s most strategically positioned urban precincts.
The development was officially revealed to property stakeholders, investors and media at an event at the Cape Town International Convention Centre (CTICC) on Monday, 26 October 2026, attended by representatives of the City of Cape Town, including Alderman James Vos, alongside the CTICC and the project’s development team.
With a total development investment of R2.5 billion, ThirtyFour18 represents a substantial commitment to the city and its Foreshore, bringing together private-sector capital, a prime urban location and a residential concept designed to respond to growing demand for well-connected city living.
35 storeys in total
The building will rise 35 storeys in total directly above the CTICC, placing residents within one of Cape Town’s most important commercial, tourism and events districts, while overlooking the V&A Waterfront, harbour and Table Mountain.
The project comes at an important point in the continuing evolution of Cape Town’s urban core. Rather than simply adding residential stock, ThirtyFour18 introduces a high-density development that capitalises on existing infrastructure, established economic activity and the accessibility of the Foreshore.
The City of Cape Town’s support for the development was a central theme at the reveal, highlighting the role major private-sector projects can play in strengthening investor confidence, stimulating economic activity and adding further momentum to the development of the CBD and Foreshore.
A more vibrant commercial precinct
“We want Cape Town and the world to know that we are open for business. When you have a private sector that’s willing to invest, as government, you need to do everything possible to make that investment land, make it as easy as possible for those investors to come into your city,” said Alderman James Vos. He positioned ThirtyFour18 within the City’s wider drive to unlock economic growth through its property portfolio and strengthen the inner city as a place to live, work, invest and visit, describing the project as one that brings together a stronger business tourism ecosystem, a more vibrant commercial precinct and greater economic opportunity.
Senzo Tsabedze, Founder of Afrirent Holdings, the project’s development partner, shared the vision behind ThirtyFour18 at the event, outlining the significance of delivering a development of this scale within Cape Town and the opportunity presented by its location.
“It is a project that’s going to create jobs. We’re looking at 2,500 jobs during construction. We’re looking at 400 permanent jobs once the scheme is finished,” said Senzo Tsabedze. He added that Cape Town had been a clear investment choice for the group because of what is happening in the city, the security of its investment environment and the responsiveness of the City of Cape Town. The development team has also deliberately appointed Cape Town-based professionals to the project, supporting its intention to keep a greater share of the economic impact within the local economy.
Named after the building’s global coordinates, ThirtyFour18 has been conceived as a highly serviced private residential address. The development will combine private apartments with hotel-style services and facilities, including concierge services, a rooftop sky bar and swimming pool.
Its position above the CTICC creates a direct connection to a precinct already attracting significant local and international business, conferencing and tourism activity, while providing residents with immediate access to the wider city.
A limited number of residences will be released, including just seven penthouses, creating an intentionally exclusive offering within the 35-storey development.
The timing of the project also speaks to the development team’s longer-term view of the Cape Town market. The R2.5 billion commitment represents confidence not only in the current strength of the city, but in the continued importance of well-positioned, high-quality residential development as Cape Town grows and competes for local and international investment.
Monday’s event culminated in the unveiling of the architectural model of ThirtyFour18, giving invited guests their first detailed look at the scale and design of the building ahead of its broader market introduction.
ThirtyFour18 will officially launch to the public in January 2027 with a teaser campaign revealing even further information from 1st December 2026.
