Name: ABSA Towers West
Use: Office
Floors: ?
Status: Planning stages
Location: Johannesburg CBD


Property24.com

R1.1bn For New Absa HO - 2007/04/03

Planning is currently in progress for a spectacular new R1.1 Billion office development, to be known as Towers West, that will be situated adjacent to Absa Group's head office in central Johannesburg. It will consolidate a number of Absa departments currently housed in leased premises throughout Gauteng and provide considerable financial benefit to the city.

The new building will span three city blocks and will comprise an office building taking up two city blocks, with a bridge over Marshall Street, and a Parkade on the third city block. Plans are also underway to include an energy centre in the development to service the surrounding Absa campus.

It is part of Absa's ongoing commitment to the regeneration and upliftment of the inner-city and is in line with President Thabo Mbeki's vision of a revitalised Africa," says Steve Booysen, Absa CEO.

"An additional 3 580 permanent Absa staff members will work in the CBD which will result in additional consumer spend and, consequently, be a boost for the region's economy.

Towers West will also promote the inner-city residential property market as increasing numbers of employees seek local, conveniently-situated accommodation so that they can reduce their transport costs," says Sipho Mashinini, managing executive: Absa Real Estate Asset Management.

When completed, the addition to Absa's campus will contribute approximately R1,2 million per month in additional revenue for the city by way of municipal utility charges and payments to third party service providers.

Article courtesy of ABSA.

cant belive this is all we know about a billion rand development

^^ my sentiments as well! Surely they would be proudly showing off their renders? Lets just hope that they aiming for height, unlike FNB

They should build a tower ontop of the parkade, maybe 35f of mixed use. Maybe even with a hotel. That would be great in my mind. I cant understand why not even one developer has seen the impact a new skyscraper can have on the cbd area.

i almost can say 100% that it will be nowhere near 35F, thats what we all wish for, but really have zero belief that that will be achieved. probably in the region of 10-12F

oh well even if it isn't a highrise, it is a much needed breath of fresh air into the city centre, which hasn't seen a new project for a while now. and it'll bring 3000 people into the city, which will hopefully result in more restaurants/retail opening, thereby bringing more residential projects.

We dont know what ABSA have planned and I think we can only comment about number of floors ones we got details. They will obviously accomodate more than just people in that building. They obviously gonna need more space for smoking rooms, canteen, parking etc, mind you the city parking space problem.

^^ Yep.. we're definitely going to see a multi-story parking lot, and it'll probably be very similar to the Standard Bank one.

Hows the new ABSA office in Sandton?

I hope this thing even touches 10f. It is spread over three big city blocks.

Hows the new ABSA office in Sandton?


You're not maybe thinking of Nedbank DB? They're the only major bank not to have stayed in the city. They have that HUGE sprawling complex between Investec and Rand Merchant Bank.

ABSA has stayed in the Southeast of the city, and have also taken up office in the 'Diamond' Building.

oh well even if it isn't a highrise, it is a much needed breath of fresh air into the city centre, which hasn't seen a new project for a while now. and it'll bring 3000 people into the city, which will hopefully result in more restaurants/retail opening, thereby bringing more residential projects.

Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover

Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover

I know the IT people were housed in Randburg along Republic Road just a few blocks from Multichoice's offices. I know there were other buildings all over the place housing more ABSA teams.

Where have these been at present? i thought they had been in other buildings scattered around the cbd already? whatever the case tho, alot of people will be concentrated.

If it is sppread over 3 city blocks, than i totally doubt it will pass 10F then. because that is alot of space to cover

I know the IT people were housed in Randburg along Republic Rd just a few blocks from Multichoice's offices. I know there were other buildings all over the place housing more ABSA teams.

Two city blocks will be the actual towers, a third will be a 4000 car park. And those city blocks arent huge, normal cbd cites with two previous buildings demolished to make way.

jakes do you know something we dont?? whos going to the first to break the news on this one

just ran into a short article on some property portfolio website. ABSA states that they will build a parkade for up to 4000 cars. Concerning the three city blocks? I have driven past there, and they state that in the initial framework as well. And I spoke to a few developers during the inner-city summit (but very few have a clear idea of what to expect)

http://i166.photobucket.com/albums/u115/Puleza_2007/P1030151.jpg
http://i166.photobucket.com/albums/u115/Puleza_2007/P1030150.jpg
The buliding behind this construction site is also under renovation.

You're not maybe thinking of Nedbank DB? They're the only major bank not to have stayed in the city. They have that HUGE sprawling complex between Investec and Rand Merchant Bank.

ABSA has stayed in the Southeast of the city, and have also taken up office in the 'Diamond' Building.

Im not going crazy, I know there is an ABSA office being built or already built in Sandton, I think its for the treasury & gold debentures dept, not an HQ will give you more info on it, I'll contact my cuz, his going to be working there.

its wierd that they dont tell anyone anything.

They don't really need to. They don't want to rent it out. But 12 storey buildings were demolished for this development. Lets hope they build higher than that. Absa only told us what they thought we needed to know.

Most developers would proudly tell you what they are doing!!

ABSA boasted for ages about their Durban CBD development, likewise Standard Bank about theirs. And why shouldnt they???

Ill put money on this being a 20F tower and complimenting the big tower and the newer smaller towers

I hope its a 20f. They demolished a 12f, so highly likely

From the top of the carlton you can get a glimpse of the construction site underneath...

http://i198.photobucket.com/albums/aa259/granova/DSC00106.jpg

Jakes no project sign boards or renders on the haordings around the site?
Man I would love a 30F to compliment the main tower

and is there an "A" missing from the side of the big tower in ABSA?

Yeah.. we were wondering if it fell down the side of the building and hit someone's head! lol! How else could it have been dismanlted?

like monty pythons boot

and is there an "A" missing from the side of the big tower in ABSA?

Looks like the Amalgamated Banks of South Africa are no longer Amalgamated. :lol:

ok, hold your erections for now. i just spotted a render of this building. it looks like the other absa buildings. And is about 10F. Vomit vomit, urg.

ooh ooh post post!

Pitty, looking at the refurb done at the ABSA Towers in Durban CBD I thought that would set the trend to ABSA's new designs.

kinda on the money then. i thought it was too optimistic hoping for a new 30F in downtown jozi yet...

HOWEVER, having said that, i think its daft for ABSA to spend so much money, R1billion, and not even aim for the development to stand out as an icon. You would think they would aim for a bit more, unlike good ole FNB that loves building next highways.

so the render??????

Courtesy of Marco

http://www.tcdesign.co.za/main.htm

Not bad, it would have been cool if it were taller though

http://i27.tinypic.com/2eft84x.jpg

Don't like it at all. So boring!

They could have came with a better design.

Looks like all their downtown buildings. ABSA really builds bland, uninspiring buildings...

Yawn...

yup another absa block but aleast there spending money in the cbd

Thats the existing ABSA towers East not the new one

it actually looks like absa east

thats the sad, horrific, boringly bland part of it all

I found these images for the new ABSA tower on the Motsepe website. Interesting as TC Design have also produced drawings which Pule and Marco found, so who has won the contract, anybody know?

http://www.motsepearchitects.co.za/Absa%20Page/larg008.png

http://www.motsepearchitects.co.za/Absa%20Page/larg010.png

http://www.motsepearchitects.co.za/Absa%20Page/larg009.png

Interested at looking at it yourself here you go.

http://www.motsepearchitects.co.za/absapagepage.htm

I must admit that from these images it looks more nice. I like it. Thanks Komsakkie.

It does look much better, less of that bland coperate look from the other.

I agree much better, dont see a brigde linking them so maybe its sub teranian

renders always look better bt it def kicks ass

I still think it's bland lol. And also too closed off to the street. I would have liked a more integrated environment.

4 cranes are currently on site.

Will post pics that I took last week, soon. It will take a bit of time to spring out of the ground.

After that FNB monster, i'd consider making this an 80 storey or atleast build it in Sandton

After that FNB monster, i'd consider making this an 80 storey or atleast build it in Sandton

Except for the Sandton part, I agree. FNB raised the bar for ABSA after their construction of Fairlands. Their current design, although intriguing, looks common and boring when compared to FNB now.

For me Sandton is also a NO. But they can refurb the existing tower and fill it with glass and change the design like Old Mutual's gonna do with Sandton City.

For me Sandton is also a NO. But they can refurb the existing tower and fill it with glass and change the design like Old Mutual's gonna do with Sandton City.

Excellent idea! Why don't they do that? It should be cheaper than building a whole new building from scratch.... At least we could then have a modern skyscraper in the jo'burg skyline....

The offices around the tower are being converted into apartments by AFHCO and the beutification of Main Street's gonna cross over Eloff and will end at ABSA Towers so it will be good to have that kind of a skyscraper in that area.

Damn! We should send the idea to them right now before they waste any more time and money.....

The offices around the tower are being converted into apartments by AFHCO and the beutification of Main Street's gonna cross over Eloff and will end at ABSA Towers so it will be good to have that kind of a skyscraper in that area.

Main street :banana:

I like this one, i got to admit. Its changing the look of town, nice and fresh, nothing amazing but good non-the-less.

I have to agree with you Luf, that area badly needs that kind of development. Yes, FNB have set a trend but they decided to do that outside the CBD so 10 points to ABSA for deciding to develop that building in the CBD.

By the way, anyone who knows architects who are developing the new FNB office and parking in the CBD. We have to get the designs.

great!

You can see this at the bottom centre. Lots of cranes

http://cache1.asset-cache.net/xc/82646461.jpg?v=1&c=NewsMaker&k=2&d=17A4AD9FDB9CF19368FFB0B613D6DEB0988BC90F20042B1DE30A760B0D811297

http://i55.photobucket.com/albums/g160/amgosai/Sky%20Scrapercity/P1110412.jpg

http://i55.photobucket.com/albums/g160/amgosai/Sky%20Scrapercity/P1110411.jpg

6 cranes on site
http://i198.photobucket.com/albums/aa259/granova/Hillbrow/DSC01376.jpg

http://i198.photobucket.com/albums/aa259/granova/Hillbrow/DSC01375.jpg

http://i55.photobucket.com/albums/g160/amgosai/Puzela/P1110413.jpg

http://i55.photobucket.com/albums/g160/amgosai/Puzela/P1110412.jpg

http://i55.photobucket.com/albums/g160/amgosai/Puzela/P1110411.jpg

compliments of my bird.
http://i255.photobucket.com/albums/hh125/willayster/DSC04148.jpg
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http://i255.photobucket.com/albums/hh125/willayster/DSC04147.jpg
http://i255.photobucket.com/albums/hh125/willayster/DSC04149.jpg
plenty going on.

^^ Awsome mate, thanks!

You got chopper?

Now I realise how big this development is!

oo. that's superb for the JHB cbd. A new building from the ground up! Let's hope this will be the big catalyst needed.

^^ Awsome mate, thanks!

You got chopper?

i wish. my GF is giving lectures in th main ABSA building, i asked her to get some shots. came out real good.
big development, taking up a few city blocks!

^^ I heard that one of the delapidated buildings will be used as parking for ABSA staff? Can she check for us as to which one is that?

no disrespect to ABSA or Joburg but that part of town looks rather drab and a bit industrial

no disrespect to ABSA or Joburg but that part of town looks rather drab and a bit industrial


That is because the ABSA campus is on the border, and always was on the border of a drab industrial area...

pule, i will see what i can do, however my GF does not work for Absa, and i dont even bank with Absa, so i have little or no power of influence there :lol:.
hope that they convert the old buildings into parking.

^^as for the drab industrial look, i agree, this is why the development could have such positive spins offs... the building is on the jeppe border? red is dead....

no disrespect to ABSA or Joburg but that part of town looks rather drab and a bit industrial

Drab? That is a serious understatement bru... it is FVCKING HORRIBLE.

Drab? That is a serious understatement bru... it is FVCKING HORRIBLE.

yes it is. But iv got the feeling that ABSA construction is a start of things to come. When big banks/companies have faith in an area, the smaller companies will follow. Land must be cheapish there (correct me if im wrong) so this could make it appealing for other companies who are not interested in Rosebank, Sandton etc.

http://i34.tinypic.com/35li82v.jpg

that the building circle in red which was an eyesore is now being renovated by AFHCO and there are more than 5 other buildings around that area which have been bought by AFHCO

At least there is no more decay in our CBD. It is only getting better now. And it's a big place, so it will take time.

Nice. I hope they do that that kind of scale work in Pta some time soon.

Updates?

Progress?

Starting to rise - Pictures taken on corners of Marshall and Troye, and Main and Troye
http://i198.photobucket.com/albums/aa259/granova/JHB/DSC02137.jpg

http://i198.photobucket.com/albums/aa259/granova/JHB/DSC02138.jpg

shoot i should also upload the pics i took from the 50th floor of the carlton center the site is massive

heres the image i was talking about
http://img.photobucket.com/albums/v297/hsark/absa.jpg

the site spans three shitty (oh sorry, city) blocks. Will bring a lot of life into the area

Such a great addition to the area.

This will definately stretch the development area down and eat the industrial area there. Good thing.

Its looks like tall skyscrapers are now getting out of fashion, with the less taller buildings coming into the spotlight where they are also given unique designs for everyone to see.

This will definately stretch the development area down and eat the industrial area there. Good thing.

i find very interesting the differences between the urban layout of latin cities and Saxony cities ... the latin cities are concentrated, the industrial areas are in the suburbs or staying far away from financial and residential districts (like são paulo city). :)

Abstract from JDA's websit

"And in Marshalltown another new construction has also started. The Absa Towers West investment will extend the current Absa campus so that it joins up with other developments in the city.

It is probably the biggest single project taking place in the inner city, and once completed would not only add three new buildings to the cityscape but also a beautiful urban streetscape, said Briget Grosskopff, from GLH & Associates Architects.

"One of the aims [of the development] is to keep feet on the street," she said. The design would be pedestrian friendly, well lit and sign-posted, with benching, sculpture, water features and plants making it a place where you wanted to be.

The R1,2-billion investment followed from Absa's conscious decision to stay in the city and bring back activities to the street, added Xavier Huyberechts, also from the company. "

Music to my ears. I dont care if its a bank or Zuma's Holdings doing their investments in the City. As long as it happens and keeps the city alive.

The Western tower is at 4th floor.

Great, saw that the last time i was taking pics

http://i490.photobucket.com/albums/rr270/rulani/IMAGE_297.jpg

Thanks Ruls.

yay, nice work. thanks for the photo mate

This is huge. Not my favorite buildings, as it mimics all of their other 10F buildings in the area. But it is three massive new buildings, none the less.

http://i198.photobucket.com/albums/aa259/granova/JHB/Johannesburg001.jpg

Anderson street is turning into a dark canyon (even if the buildings are only 10F). Shocking to see some of the buildings in the vicinity. This was a really really bad area.
http://i198.photobucket.com/albums/aa259/granova/JHB/Johannesburg002.jpg

geeze hows that one in the bottom left of last pic

i think that was the old Doors nightclub

geeze hows that one in the bottom left of last pic

ABSA and AFHCO bought a couple of property within that precinct and some are a already being renovated and I hope that this one is form with those that will receive an upgrade. Remember that Main Street upgrade project is gonna strecth from Ghandi Square to ABSA precinct.

is that 8 floors im seeing? thats super quick

This is huge. http://i198.photobucket.com/albums/aa259/granova/JHB/Johannesburg002.jpg

Thats gross rotten!

This is a huge development. As view from the top of the Carlton Center in September 2009.

AAAAAAAAAAAAAAAARgh. I hate hate hate photo*ucket and the fact that our internet uploads are getting slower and slower by the day.

http://i198.photobucket.com/albums/aa259/granova/DSC00967.jpg

Here we get a good view of the 3 new blocks. Many of the surrounding buildings are undergoing refurbishment as well.
http://i198.photobucket.com/albums/aa259/granova/DSC00966.jpg

Thanks again Jakes.

ah they all ABSA?

ah they all ABSA?

Yup. Freaking massive!

At least I can see where my banking fees are going!!! :moods:

Another slummie building is gone
http://i198.photobucket.com/albums/aa259/granova/DSC01055-1.jpg

It is moving along
http://i198.photobucket.com/albums/aa259/granova/DSC01056-1.jpg

http://i198.photobucket.com/albums/aa259/granova/DSC01059.jpg

Jeez moving along hey.

Nice....but if they had built a skyscraper it could of had a huge impact on the city and much media attention.

It's become quite a huge ABSA complex, I count 8 buildings including the parkade.

Nice....but if they had built a skyscraper it could of had a huge impact on the city and much media attention.

true true. but i would rather have them cleaning up 4 or 6 blocks than building a highrise. those buildings are in a really bad, rundown portion of the city.

true true. but i would rather have them cleaning up 4 or 6 blocks than building a highrise. those buildings are in a really bad, rundown portion of the city.

Also true..Pity we can't have it all..

http://i653.photobucket.com/albums/uu258/Onkez/ABSATowersWest2.jpg http://i653.photobucket.com/albums/uu258/Onkez/ABSATowersWest1.jpg http://i653.photobucket.com/albums/uu258/Onkez/ABSATowersWest.jpg

Nice updates, thatns the E.N.D. when will that development be completed?

http://farm3.static.flickr.com/2763/4241703126_a89ca12877_b.jpg

http://farm5.static.flickr.com/4042/4241703134_c031026302_b.jpg

I guess we're looking at an October 2010 (http://www.wspgroup.com/en/Welcome-to-WSP-Africa/WSP-Africa/Press/?item=12208) completion date.How is the construction of the 15 storey buildings coming along?

those building are TALL!
if they were in a smaller CBD like sandton they would be major!

Are those 15 storey buildings? Doesnt look like it...
Does anybody know if they are gonna work on that old horrid tower?
Surely its in dire need of a refurbishment... put some nice green glass up like Civitas in Pretoria:cheers:

I can see the beauty of it already emerging. thanks guys

is the city upgrading surrounding enviroment?

^^ they will be upgrading main street as part of extension to main street precinct, but for other streets...I don't know.

^^ they will be upgrading main street as part of extension to main street precinct, but for other streets...I don't know.

thats great news pule! nice to know that the upgraded main street will reach further across the city.
Aweosme news on your baby! congrats!

Thanks Brian.

So THAT is why my banking fees are so high...!!! :nuts:

Thanks Brian.

Thats great news P, is that nomber 6 0r 7? ive lost count!

:lol: 9...just kidding...

This one is HUGE. If you head up Marshall street you see if from the Mapungubwe Hotel. Two of the blocks are connected by skywalks, but the skywalk is basically 9 floors. So the building spans over the 3lane street.

not much work because of the mandatory shut down but looking good none the less! I hear this one is also designed similarly to the ABSA Capital offices in Sandton where the design is as green as possible.

those building are TALL!
if they were in a smaller CBD like sandton they would be major!

Not sure about the tall part but then again,I was 50 floors up. :)

http://farm5.static.flickr.com/4018/4351314305_a39e94c818_o.jpg
http://farm5.static.flickr.com/4017/4351325143_513a4905ec_o.jpg
http://farm5.static.flickr.com/4004/4351331083_2c87770427_o.jpg

Uploaded on February 12, 2010 (http://www.flickr.com/photos/onke/archives/date-posted/2010/02/12/)
by You (http://www.flickr.com/photos/onke/)

Well, tall is relative. but they sure are bulky!

Wow this is amazing to see such a huge project like this taking place in SA. I'm original ly from SA and to hear they spending R1 Billion on the project is huge!

Does anyone know who the main contractors/consultants are and the the building will be completed??

Cheers

How is the other development coming along in Joburg?

Wow this is amazing to see such a huge project like this taking place in SA. I'm original ly from SA and to hear they spending R1 Billion on the project is huge!

Does anyone know who the main contractors/consultants are and the the building will be completed??

Cheers

Murray & Roberts, Enza constructions.

http://absagroupsourcing.co.za/wecare_towerswest.php

This is a huge project, and there are a lot of small details. Would love to tour the building once it is finished.

This is a huge project, and there are a lot of small details. Would love to tour the building once it is finished.

yeah me too.

Haven't had time to get to check how this babe is doing. Anyone being there lately?

http://www2.picturepush.com/photo/a/4218825/img/4218825.jpg

http://www3.picturepush.com/photo/a/4218836/img/4218836.jpg

http://www1.picturepush.com/photo/a/4218844/img/4218844.jpg

http://www2.picturepush.com/photo/a/4218850/img/4218850.jpg

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http://www2.picturepush.com/photo/a/4218880/img/4218880.jpg

Love it! Thanks Pule

I know that tenants like LARGE floor plates these days but that's a fortress not a skyscraper. Thumbs down.


Sent from my iPad using Tapatalk

... And people say the Joburg CBD is dead / there is no investment in the Joburg CBD.....

Nice photos Pule!

Great Stuff Pules. Hows the surrounding area, this part looks quite nice.

It turned out nicer than expected.

this will have great impact on surroundings, great stuff!!!

http://farm6.static.flickr.com/5002/5357177263_4813895908_b_d.jpg

looks pretty open to the street scape to me

Eish.

http://farm6.static.flickr.com/5167/5359974669_a958be7d39_b_d.jpg

http://farm6.static.flickr.com/5046/5359972417_0a847a1601_b_d.jpg

Absa opens green building

Written by Mbhazima Lesego waka’Ngobeni
19 July 2011

A new benchmark has been set in the Joburg CBD, this time for environmentally friendly building, with the opening of Absa Towers West, the headquarters of Absa Bank.

FUTURISTIC in design, Absa Towers West at 15 Troye Street sets the benchmark for eco-friendly buildings in the inner city.


The building, which houses the bank’s headquarters, was designed to “ensure a healthy and sustainable symbiosis between development and the environment”.
Speaking at the roof wetting party on Monday, 18 July Maria Ramos, the group chief executive of the bank, said the investment made into Absa Towers West demonstrated the company’s commitment to the City of Joburg and its inner city renewal efforts, as well as to sustainable development.

Ramos said Absa was committed to enterprise development, social responsibility and environmental citizenship. The building embodied that in its commitment to the rejuvenation of Joburg’s inner city, “supporting the needs of our people and doing so in a manner that has a lower environmental impact”.

The roof wetting was attended by Executive Mayor Parks Tau; Finance Minister Pravin Gordhan; Britain’s minister of trade and investment, Lord Stephen Green; Bob Diamond, the chief executive of Barclays, Absa’s majority shareholder; bankers; and some clients. Lord Green and Diamond are in the country as part of a Britain Trade delegation led by Prime Minister David Cameron.

Gordhan officiated in the concourse of the building, where avenues of trees underline the architecture. The roof is glass, allowing direct sunlight into the building. On the day, new services and technology were on display, including disposable ATM cards, and the bank’s new SMME products for small enterprises such as spaza shops and informal traders.


Ramos said that in designing the building, which houses more than 3 000 staff, the bank considered global best practices “in order to maximise the aesthetics and functionality of the building, whilst delivering improved efficiencies”.
Gas turbine
It has a gas turbine, which will decrease Absa’s carbon footprint by an estimated 19 000 tons a year. It has the largest grey water system in South Africa, which helps cut water consumption by recycling 43 000 litres of water a day. Rain water, the water used in the gym and in the fitness centre is filtered and used for flushing toilets.

There is a restaurant and pause areas on all floors, with several refreshment counters throughout the building.

“The building, which is part of Absa Campus, is centrally located and therefore extremely convenient for Absa head office employees who rely on public transport, while contributing to the regeneration efforts of the City of Johannesburg,” said Ramos.

It also reduces excessive energy and water consumption and carbon emissions. It uses digital energy-efficient lights with motion sensors and daylight dimmers. It also houses the Absa museum, the only money and banking museum in the country. It has demarcated bins to help recycling efforts.

The bank said the building was contemporary in design and was built in accordance with workplace ergonomics. It protected occupant’s health and improved employee productivity.


“By promoting the new way of work and using state-of-the-art technology, the Absa Towers West [ATW] encourages collaboration and teamwork among colleagues, thus embodying the One Absa ‘better together’ philosophy,” said Ramos.
Absa Group is listed on the JSE.

Technology
The bank said it had chosen to pioneer this kind of technology in Johannesburg because it was Africa’s commercial hub with a 16 percent contribution to the GDP.

Green building practice aims to reduce the environmental impact of buildings. As the effects of climate change intensify, there has been an increase in the demand and building of eco-friendly homes and workplaces.

Eco-friendly buildings also use wind turbines, high efficiency lighting, environmentally friendly plumbing, recycling, efficient insulation, water conservation and solar panels, thus reducing their carbon

http://www.joburg.org.za/images/stories/2011/July/absatowers_top.jpg

http://www.joburg.org.za/images/stories/2011/July/absatowers_side2.jpg



Read more: http://www.joburg.org.za/index.php?option=com_content&view=article&id=6918&catid=88&Itemid=266#ixzz1Sed6Vo9H

Absa’s R1.8bn new Jhb HQ opens

By Moneyweb

Absa’s new headquarters in Johannesburg cost about R1.8bn, a project that a senior bank executive said was a sign of commitment to the inner city of South Africa’s economic hub.

Absa has been reluctant to reveal how much its commitment to the Johannesburg city centre cost, saying it is “unfortunately not at liberty to disclose the figures in question”.

But Moneyweb inevitably found out via the Murray & Roberts 2010 annual report that the new headquarters known as Absa Towers West (ATW) is a R1bn project that “has benefited from value engineering in the aftermath of the global financial crisis”.

The project commenced in 2008 and was due to be completed last year, however in June 2010 the construction firm said the price was R1.8bn.

“The Absa Towers West investment is a demonstration of our commitment to the City of Johannesburg and its renewal effort,” Absa Group Chief Executive Maria Ramos said on Monday.

Ramos added at the opening that the bank would continue to upgrade its other building in the inner city. The Absa Towers West building will house over 3 000 employees. Insiders say only group executives will have offices. The majority of the staff will be comfortably arranged in an open plan.

The building’s entrance at no.15 Troye Street in Johannesburg is also home to the Absa Museum, the only money and banking museum in South Africa, according to the bank.

The building was officially opened by Minister of Finance Pravin Gordhan on Monday. In his address Gordhan jokingly said that he had wondered if he could move the National Treasury to the new building. The finance minister said the decision to remain in the city was applauded by government.

“It’s fascinating to see that there is a project like this that has been completed which is a green building in a greening world and a greening society just a few months before Cop 17 [the 17th Conference of the Parties of the United Nations Framework Convention on Climate Change] takes place in Durban in South Africa.

“Lots of us would like to talk about the green economy but have difficulty in adapting to it ... Increasingly in South Africa we hope ... the leadership that Absa and Barclays demonstrated in greening the city centre and putting up a building of this sort is one that would stimulate others to do the same and emulate it as well,” Gordhan said.

According to Absa, the Absa Towers West building boasts efficient lighting with energy saving lights throughout the building, supported by intelligent use of daylight. It also has a lighting management system with motion sensors throughout the building. The bank says its gas turbines alone decreased its carbon footprint by 7% last year and a further reduction is expected this year.

Asked why Absa built this new building, chief marketing and communications officer Happy Ntshingila said it decided on the green building as part of the banks continuous review of its property portfolio and making effective and efficient use of space, while on the other hand contributing to the green environment.

“The building is in line with the SA green codes and this demonstrates the group's commitment towards sustainable development”. It also allows “Absa to optimise its contribution to the local economy. Absa strongly believes in the city’s economic growth potential and, as such, we continue to invest substantially to boost the local economy”, Ntshingila said.


http://www.sacommercialpropnews.co.za/business-specialties/investment/3302-absa-s-r1-8bn-new-jhb-hq-opens.html