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Divercity is an urban property fund set on regenerating the South African city and transforming its impact on people’s lives. The fund invests in residential, commercial and retail assets in dense urban nodes, with a focus on human-centred design and integrated public space. Divercity holds a R2bn portfolio, jointly seeded with assets from leading property companies Atterbury Group (Atterbury), Talis Property Holdings (Talis) and Ithemba Group (Ithemba). To facilitate growth, the fund has a preferred offtake arrangement with these seed partners, and enhances yield by participating in the development profit of large-scale, mixed-used urban developments. This growth is supported by strategic investment partners Rand Merchant Holdings (RMH) and Nedbank Property Partners. Divercity aims to convert to a Real Estate Investment Trust (REIT) and list within five years.


The fund is comprised of a team of individuals and investors with diverse skills but a singular vision.


(Invested via the Atterbury Property Fund)

Talis Holding Group (Talis) is a black-owned, BEE Level 1 accredited company with investments in diverse sectors within the African economy. Part of this group, the Talis Property Fund, is based in Johannesburg and has acquired high-quality, well-located properties throughout South Africa, as well as internationally with a focus in Europe. The Fund’s portfolio comprises of a range of retail centres, commercial/office developments and specialised residential offerings, particularly in student accommodation and affordable housing. Talis recently acquired 30% of the Atterbury Property Fund, and has therefore invested into the Fund in this way.


Atterbury has significant experience in property development, having developed more than 2 million m² of commercial, retail, and residential property since its establishment in 1994. With a heart set on bettering the South African economy, the Atterbury Trust – a division of Atterbury – was launched in 1998 to focus on supporting previously disadvantaged communities. One of the most notable projects began in 2005, where Attacq was formed and acquired 1,75 million m² of commercial development rights at Waterfall, Midrand from the Islamic Institute. Later Attacq Limited was listed on the main board of the JSE.


Ithemba Property Group is an affordable rental housing business established in 1998 in Berea, Johannesburg. Over the past two decades, Ithemba has developed comprehensive property services including letting, collections, property management, asset management and development. Ithemba currently owns and manages 4 000 apartments and 20 000m² of retail space in Johannesburg and Pretoria, with a confirmed development pipeline of 2 000 units.

Ithemba’s mission is to uplift the areas where it operates through continuous engagement with residents, community stakeholders, local government, and other private landlords. Ithemba aims to be the leading provider of quality affordable accommodation in the major metropolitan areas of South Africa.


RMH has a 34% investment in FirstRand Limited, which comprises a portfolio of leading financial services franchises including FNB, Rand Merchant Bank, Ashburton Investments and Wesbank. In 2016 RMH announced the expansion of its investment strategy to include property with a focus on entrepreneurial and owner-managed businesses. They will assist these businesses with capital, strategic input, networking opportunities, structural longevity and additional governance systems. As a first step in the execution of this strategy, RMH acquired a 27,5% interest in Atterbury and 34% interest in Propertuity during 2016. Given these investments, RMH functions as an active participant in the Fund, rather than a direct seed partner. RMH Property’s investment is subject to final Competition Commission approval.


Nedbank Property Partners (NPP) is a division of Nedbank CIB’s market-leading Property Finance business. NPP is a substantial institutional investor in South African real estate with over 100 investments in the property industry with some of the country’s leading developers and property owners.

NPP’s investment in Divercity follows its strategy of investing alongside experienced property professionals with an extensive track record in identified key markets. Through Nedbank’s investment, Divercity benefits from the deep sectoral experience that the Property Partners team brings to the partnership. Nedbank Propety Partners’ investment is subject to final Competition Commission approval.


Divercity in the news

Johannesburg CBD set for a facelift
Newshour ENCA 16 October 2018

Interview with Wouter de Vos – CEO Atterbury Property Fund
RSG Geldsake 15 October 2018

Private sektor blaas nuwe lewe in ou geboue, hef gebied op
Beeld Eiendom en Veilings 12 October 2018

New fund invests R2bn into Joburg inner-city redevelopment
Biz Community 11 October 2018

Inner city project may bring investors back
Business Day 11 October 2018

Urban Property fund to create mixed-use inner city precincts
Business Report The Star/ The Mercury/ Pretoria News 11 October 2018

Interview with Tebogo Mogashoa – Group Chairman Talis Property Fund
702 – Xolani Gwala Show 11 October 2018


ABSA Tower Redevelopment brochure


Jewel City Fly-though video


Die Klubhuis
2nd Floor
Corner of 18th Street and Pinaster Avenue
Hazelwood, Pretoria