Joburg's central business district might soon give central Sandton a run for its money - after developers this week announced plans to build three luxury hotels.

The project directors of the Legend Lodges, Hotels & Resorts Group, said the ultra-modern hotels would share the same buildings as several private, state-of-the-art apartments.

The group described its project as a first for Joburg.

The proposed Urban Hip Hotels will be completed within the next four months.

The first hotel, Shakespeare Place in Market Street, will open for business on June 1.

This will be followed by Splice in Killarney, north of Joburg's CBD, and The Franklin in Pritchard Street.

The buildings will consist of a combined total of 319 top-end rooms.

Group director Kobus Botha said the developments were "the latest trend in home ownership, where a resident can own a luxury home in a well-run hotel environment".

According to marketing brochures, the buildings incorporated swimming pools, gymnasiums, restaurants and cocktails bars.

Business and conference centres, with board rooms and secure parking basements, were included in the plans.

The developers said prices for the luxury apartments ranged from R449,000 to a whopping R2.5-million.

Owners would be able to rent apartments out to business executives visiting the city for a month or more, said Botha.

He said his group was confident that the project would be a success in Joburg, after having conducted extensive international research.

"We sent our marketing research team to go and find out how these hotel models worked, and most of the research was done in North America," he said.

"We want to bring residential life back to the city ... and Joburg's night life will improve."

The group plans to launch similar projects in Cape Town, Durban, Port Elizabeth, Bloemfontein and Nelspruit.