Sandton

Sandton is a suburb of the City of Johannesburg, South Africa in the Gauteng Province. The name comes from the combination of two suburbs, Sandown and Bryanston, both of which were named after places in the United Kingdom. In 1969 Santon was promulgated as a municipality in its own right, but lost it status as an independent town in 1994 town during the re-organisation of South African local governments.

It has become the new financial centre of South Africa and Johannesburg's premier business centre. Much of the financial focus of Johannesburg has shifted from the Central Business District to Sandton, especially in the last 15 years. However, three of South Africa's four largest banks have kept their head offices in downtown Johannesburg, along with Transnet, the transport parastatal. The other bank, Nedbank, has its headquarters in Sandton.

But much of the "new money" has moved north to Sandton, including investment banks, financial consultants and the like. A considerable amount of the city's A-grade office space is to be found in Sandton. The JSE Securities Exchange, Johannesburg's stock exchange, relocated its offices to Sandton from the Central Business District in the late 1990s. Sandton's gain was the central business district's loss: it resulted from urban blight of the downtown Johannesburg area.

Sandton is home to the Sandton Convention Centre, one of the largest convention centres on the continent and primary site of the 2002 World Summit on Sustainable Development (also known as "Rio + 10"), which Johannesburg hosted. The convention centre also hosted the African National Congress' victory celebrations after the party won the 2004 elections.

Hewlett Packard's South Africa office is in Sandton.

One of the main attractions in Sandton is Sandton City, which ranks among the largest shopping centres in Africa. Together with Nelson Mandela Square, the centre, with some 144,000 m2 of shopping space, is one of the largest in the Southern Hemisphere, larger than Sydney's Westfield Parramatta or Melbourne's Southland Shopping Centres. Much of Johannesburg's business tourism is centred on Sandton, which has a string of 5-star hotels.

 

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Last update: 19 Jun 2024 @ 03:50

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