PSG Alpha Investments, a subsidiary of the JSE-listed PSG Group, has acquired a 50% stake in Evergreen Lifestyle, South Africa’s pre-eminent provider of retirement living and a division of the Amdec Group.

“Recently, we’ve witnessed a noticeable shift in the nature of hotel development in South Africa and the manner in which such developments are funded and owned,” states Wayne Troughton, CEO of HTI Consulting, a specialist hospitality and real estate consulting firm.

Amdec develops five new hotel properties for Marriott International in Cape Town and Johannesburg, South Africa.

Construction has commenced at The Yacht Club, a unique R1.3bn mixed-use iconic development by the Amdec Group, South Africa’s leading developer of New Urban lifestyles.

Amdec Group announced that the first phase of 60 residential apartments at The Yacht Club had been completely snatched up in just under three working days.

The Amdec Group today announced that it will develop The Yacht Club, a unique R1,2 billion mixed-use landmark at the magnificent gateway to Cape Town’s Waterfront.