Malose Kekana
Pareto
CEO
“A milestone in the next chapter of the Menlyn Precinct”
Carel Kleynhans
Divercity
CEO
“A full-circle moment for South African urban living”
Maureen Manyama
Pareto
Board Chairperson
“It’s one thing to approve strategy; it’s another to be on-site and witness it come to life. This project demonstrates our dedication to reinvesting in top-quality precincts, ensuring they stay competitive, attractive, and sustainable for many years to come.”
1,200 new apartments set to reshape Pretoria’s most dynamic mixed-use node
A major urban redevelopment officially begins in the Menlyn precinct, where Pareto Limited and Divercity Property Group have broken ground on the R850 million residential project of Menlyn Office Park. The initiative signifies a key milestone for one of the country’s most successful mixed-use growth areas, bringing 1,200 new apartments directly near Menlyn Park Shopping Centre, Africa’s most awarded super-regional mall.
The event united executives, partners, board members, and the professional team to celebrate the beginning of a project that both organisations regard as a pivotal development for Pretoria’s fastest-growing urban district.
Setting the scene: A vision anchored in growth
The Menlyn precinct has developed into one of South Africa’s most lively mixed-use areas, supported by the combined appeal of Menlyn Park Shopping Centre and Menlyn Maine. The residential redevelopment is noted as the next strategic step to ensure the centre remains future-ready, relevant, and resilient.
Aerial architectural rendering of the Menlyn Park residential development
The redevelopment includes:
460 office-to-residential conversions in the existing 3- and 4-storey buildings
740 new-build apartments across four buildings of up to 10 storeys
First units to be completed and occupied from 2027
A lush, tree-rich setting seamlessly connected to over 400 retail, service and entertainment offerings
This project is about more than construction; it’s about shaping how people want to live today—connected, convenient, community-oriented, and part of a well-managed urban neighbourhood.
Divercity: “A full-circle moment for South African urban living”
Delivering the first keynote, Carel Kleynhans, Chief Executive Officer of Divercity, reflected on the personal significance of contributing to a precinct that has played a central role in Pretoria’s social life for decades, says Kleynhans, “Driving in this morning, I was reminded of being dropped off at Menlyn as a teenager—back when the events arena was the centre of weekend excitement. To return now and break ground on a project of this scale is a full-circle moment not only for me, but for what this node represents in South African city-making.”
Kleynhans explained that Divercity’s mission is centred on providing high-quality, affordable rental housing in central, well-connected neighbourhoods—an asset class he believes is rapidly gaining momentum locally. “Globally, multi-family residential is one of the leading institutional asset classes. South Africa’s fundamentals are powerful, but the sector remains underdeveloped. With this project, we are tapping into both a significant investment opportunity and a pressing social need: enabling more people to live close to work, transport, and urban amenities.”
Praising the partnership with Pareto, he added, “This project has already demonstrated what can be achieved when teams work with clarity, purpose, and shared goals. If the beginning is any indication, we are creating a precinct that will set a new standard for residential living in South Africa.”
Divercity will co-design, co-own (50/50), and ultimately manage the completed precinct through its specialist subsidiary, Ithemba Property Management.
Sod Turning Ceremony of Menlyn Park Apartments (Left to right: Jonathan Reader, Chief Investment Officer of Divercity, Carel Kleynhans, Chief Executive Officer of Divercity, Malose Kekana, Group Chief Executive Officer of Pareto and Maureen Manyama, Chairman of the Board of Pareto
Pareto board: local investment, long-term strategy and precinct growth
Representing the Pareto Board, Maureen Manyama emphasised the strategic importance of reinvesting in South African precincts and the role of quality housing in enhancing the long-term performance of mixed-use environments. “It’s one thing to approve strategy; it’s another to be on-site and witness it come to life. This project demonstrates our dedication to reinvesting in top-quality precincts, ensuring they stay competitive, attractive, and sustainable for many years to come.”
She emphasised that, although Pareto remains a retail-focused group, its diversification into mixed-use developments requires projects that complement its flagship mall assets. “By investing in residential alongside retail, we are reinforcing the economic ecosystem of the precinct. This is how you build nodes that support job creation, stimulate enterprise and provide inclusive urban living opportunities.”
Manyama closed by praising the project’s blending of natural landscaping, “Menlyn Office Park is filled with trees and greenery—it already feels like a place where people want to live. Incorporating that environment into the new development strengthens the project’s sustainability and its appeal.”
Malose Kekana, “A milestone in the next chapter of the Menlyn Precinct”
The final address of the morning was delivered by Malose Kekana, Group Chief Executive Officer of Pareto Limited, who highlighted the transformational impact this development will have on both the precinct and the wider Tshwane region. “This development signals our commitment to shaping the next chapter of the Menlyn precinct. By introducing high-quality residential options next to one of South Africa’s premier malls, we are creating a vibrant, connected node that reflects how people increasingly want to live, work and spend their time.”
Kekana spoke candidly about Pareto’s early purchase of Menlyn Office Park—an asset initially excluded from a larger transaction but ultimately acquired with strategic long-term goals.
He elaborated on the increasing significance of residential offerings in central mixed-use districts, “Around the world, people are living differently. Urban, connected lifestyle precincts are no longer a luxury—they’re becoming the norm. With this development, we’re building homes that are accessible, modern and well-managed, while contributing to the creation of a truly integrated neighbourhood.”
He also highlighted the symbolic significance of ongoing South African investment, “It’s easier to deploy capital offshore than to invest in difficult environments at home. But we are dedicated to this country. It takes capital to build communities—and it takes communities to create a resilient economy. Pareto will continue investing in South Africa’s urban future.”
Kekana wished the development team and contractor well, expressing confidence that Divercity’s residential expertise would guarantee the successful completion of the precinct.
A new phase for the Menlyn node
The redevelopment coincides with Menlyn’s continued growth, supported by years of strong retail success, office reinvestment, and the ongoing expansion of Menlyn Maine’s events, hospitality, and entertainment offerings. Demand for well-located, amenity-rich residential units in the area has steadily increased, driven by connectivity, employment hubs, and lifestyle appeal.
The park’s leafy environment and walkability will distinguish it in Pretoria’s competitive rental market, with residents able to reach over 400 shops, restaurants, entertainment venues, gyms, and services within minutes.
Joint venture and development timeline
Pareto and Divercity will jointly own the completed development on a 50/50 basis, with Divercity providing ongoing property management services. Conversion and construction activities will proceed concurrently, with the first completed apartments scheduled for 2027.
The project is a vital part of Pareto’s wider precinct development plan and Divercity’s expanding national residential pipeline.