23 June 2016
Johannesburg - African Rainbow Capital (ARC), which was founded by prominent businessman Patrice Motsepe, has made its first investment in South Africa’s residential property market and acquired a 20 percent stake in Val de Vie Investments for between R100 million and R200m.
Val de Vie is located in the Paarl-Franschhoek Valley and developer stock valued at more than R1 billion has been sold in the past 18 months.
ARC, a subsidiary of Sanlam’s empowerment partner Ubuntu-Botho Investments, is jointly headed by former Sanlam Investments chief executive Johan van der Merwe and former Sanlam chief executive Johan van Zyl.
The deal will support future developments on and around the Val de Vie estate, including construction of a bridge over the Berg River that will connect with the R45 road.