Property development and investment Edge Properties (Pty) Ltd has sold an office development in Sandton to China’s Sinosteel Corporation.
The development, The Inner Circle, is near the corner of Rivonia road and Grayston drive in the heart of Sandton’s financial district, said Edge Properties in a statement on Monday.
Sinosteel Corporation is a global company that engages in mineral resource development, processing, trading and logistics of metallurgical mineral resources and products under the administration of the country’s State-Owned Assets Supervision and Administration Commission. Sinosteel operates 76 subsidiaries in global markets and China, and is also the country’s second largest importer of iron ore, said the company.
Real Estate Web reported the ten storey Inner Circle property will have 20 287 m² of AAA Grade commercial office space and seven basement parking levels. Construction of the property began in August 2007, and the completion date is scheduled for July.
It was said the company believes one of the attractions for Sinosteel in that building was ‘the bio degradable and low environmental impact status of building materials used during construction, resulting in a stellar green scorecard’.