The Cavaleros Group celebrates 100 years of enterprise at the official launch of Portside Towers under its ownership, a year after acquiring the landmark building. The occasion also marks its growing investment in Cape Town, with the ABSA property on Lower Long Street becoming its second successful acquisition in the CBD.
The Group’s entrepreneurial legacy is reflected in a diversified portfolio of commercial, retail, industrial and hospitality properties across South Africa and the United Kingdom. Its investment in Portside continues a longstanding approach of recognising opportunity, unlocking potential and creating lasting value.
Penny Cavaleros, Chief Executive Officer of The Cavaleros Group, says: “Celebrating our centenary at Portside brings together our heritage and our ambitions for the future. We have built our reputation on identifying gaps in the market, recognising potential where others may overlook it and pursuing opportunities with conviction. We never stand still. Once we invest, we keep pushing to realise that potential. That determination and ambition to achieve excellence are what set us apart. Our family remains committed to South Africa, and we continue to put our capital, expertise and energy behind that confidence.”
When the Group acquired Portside, it recognised an opportunity to realise more of the building’s potential through a focused approach to leasing and asset management. Over the past year, strategic changes have strengthened the tenant mix and contributed to the property’s overall value, positioning it for sustained commercial success. The acquisition of the ABSA property on Lower Long Street builds on this progress, strengthening the Group’s presence in the CBD and supporting its broader expansion plans in the Cape.
Alexi Cavaleros, Director and Head of International Acquisitions at The Cavaleros Group, says: “Portside marked our entry into Cape Town’s commercial property market, reflecting our confidence in this world-class city and its long-term prospects. We recognised an opportunity to align the building’s commercial offering and tenant experience with its iconic presence on the skyline. A year into our ownership, we have made meaningful progress in strengthening the tenant mix and unlocking its potential.
“As global companies increasingly recognise Cape Town’s appeal, we see growing opportunity to provide premium commercial space for local and international businesses. Our acquisition of the ABSA property on Lower Long Street builds on that foundation. We are actively pursuing opportunities to expand our footprint in the Western Cape and across the African continent, focusing on investments where our expertise and approach can create lasting value.”
As The Cavaleros Group enters its second century, its growing investment in Cape Town reflects its continued ambition to strengthen assets, build enduring partnerships and contribute to South Africa’s future.
