The Cape Winelands Airport project has secured an investment, development and managing partner in the form of Growthpoint Properties, which has made an initial undisclosed investment in the project, and holds the right to future investments as well.

The privately owned airport, 13 km north-east of Durbanville, will be developed on the former Fisantekraal airfield site.

RSA Aero will own and operate the airport, while

Growthpoint will manage the 450 ha aviation precinct’s logistics, commercial and hospitality components, excluding the terminal buildings, and will hold first refusal rights to co-invest in future property developments.

The JSE-listed property group will also oversee the main contractor to ensure delivery.

“The Cape Winelands Airport team will lead aviation strategy and master planning of the international aviation hub, while Growthpoint will contribute institutional capital, property expertise and sustainability leadership,” RSA Aero and Growthpoint say in a joint statement.

Growthpoint, co-owner of the V&A Waterfront with R155.8-billion in assets, has experience in large-scale, mixed-use and tourism-led developments.

“This partnership represents a step-change for Cape Winelands Airport,” says RSA Aero MD Nicholas Ferguson.

“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.”

“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,” notes Growthpoint Properties CEO Norbert Sasse.

“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,” adds Growthpoint Properties corporate advisory head Werner van Antwerpen.

Pending environmental approvals, construction of the Cape Winelands Airport could begin early next year.

The R8-billion project will proceed in phases, starting with runway and safety infrastructure, then the terminal, cargo and industrial precincts.

The airport is targeted for commissioning by 2028, with capacity for more than five- million passengers a year by 2050.