A new 148 meter skyscraper is to be built in Cape Town, South Africa. The Portside Tower is the first post-apartheid skyscraper to receive approval from the City of Cape Town. The mixed-use Portside Tower will feature over 50,000sqm of retail, office and hotel space as well as views of Table Mountain and Table Bay.

The tower will incorporate energy and water conservation technologies, natural lighting and green building materials. It is also positioned to take full advantage of east-to-west exposure, reducing its carbon footprint as well as casting a smaller shadow upon its neighbours.

Architect Louis Karol also designed Safmarine House, which was the last skyscraper that was built in the city. The reason for the gap in skyscraper construction can be attributed to conservative planning, economics and fears stemming from 9/11. According to a statement by Louis Karol: “It was felt in many quarters that tall buildings were impossible to achieve under the present planning system, but events have proven that appropriate, well-designed tall buildings still have a place in our city.”

However, overseas property investors are currently less active in South Africa according to the fourth quarter 2010 FNB Estate agent survey. The report found that overseas investors made up just 3.5% of the overall Cape Town real estate market during the final quarter of 2010 and 4.75% of the market over 2010 overall. This is significantly down on the estimated 10.75% average share of buyers for 2008 and 7.75% in 2009.