Old Mutual Emerging Markets (OMEM) will be moving its Johannesburg Head Office from its existing property, Mutual Square on Grayston Drive, to a planned new building in the heart of Sandton.

The new development was marked by an official sod-turning on the site this week and follows strides made to drive greater collaboration in the group and execute the company’s African growth strategy.

Ralph Mupita, CEO of Old Mutual Emerging Markets, said the new Head Office, when completed by end-2017, will provide a convenient central hub from which the business will drive its collaboration initiatives and further expansion plans in Africa. About 500 employees from Mutual & Federal will also be moving to Stella Road.

“Our aim is to further strengthen the strategic collaboration already underway between Old Mutual’s life, asset management and short-term insurance businesses. It will help us to reduce the cost and time inefficiencies associated with multiple office locations, and promote the alignment of our Group culture,” said Mupita.

“By ceremonially breaking new ground here, in the middle of the city that is a major financial and commercial gateway to Africa, we are also signifying that we are confident about the future of Africa and confident about our role – as well as South Africa’s role - in it,” he added.

The new 30 000m2 Stella Road premises developed by Old Mutual Property will be visible from the main arterial routes of Rivonia Road and West Street. With its prime location directly opposite the Sandton Gautrain station, it will also strengthen Old Mutual’s corporate presence in Sandton.

The 12-storey development is targeting a five Green star rating from the Green Building Council of South Africa, in alignment with Old Mutual’s commitment to sustainability.

The site will feature an urban precinct around an internal “piazza” incorporating food and beverage retail outlets that will be attractive to customers and employees alike.