Sarah Divaris is one of the youngest professionals in South Africa’s property industry as the COO of Boxwood Property Fund. Her story is a combination of personal success, urban evolution, and the broader shifts shaping how to live and work in the Mother City.

“The biggest opportunities lie in regeneration: reimagining aging buildings and overlooked sites into vibrant, relevant spaces that meet the needs of the next generation of urban users,” says Divaris, a CFA Charterholder.

It wasn’t just her vision that got her noticed. In 2017, she was an ambitious UCT Business Science graduate who had just started working at Boxwood Property Fund when the company was in its early stages, but it had a big vision, she says, having gotten involved in all aspects of the business from the beginning.

Today, Boxwood Property Fund is one of Cape Town’s leading property investors having invested over R4.5 billion in retail, commercial, and industrial assets, of which R1.4 billion is in Cape Town’s CBD.

Divaris’ mettle was tested with Boxwood Property Fund’s first acquisition in 2018 when they purchased a portfolio of office buildings from Rebosis Property Fund for R888 million but her favourite project to date has been driving the transformation of the old Shell House in Lower Burg Street into a vibrant, community-inspired space, now known as The Box.

“We redeveloped the ground floor into a public food market, featuring food pods run by entrepreneurs, communal seating, outdoor workspaces and free Wi-Fi, which has proved to be a hit with both tenants and the greater public,” she notes, mentioning that it is this type of creativity that drew her to the property sector.

“It’s one of the few industries where you can merge numbers with imagination, and where the impact of your work is both tangible and lasting. We’re not just developing buildings – we’re shaping skylines, communities, and the environments in which people live, work and connect.“

Divaris believes it’s vital to have younger people in senior leadership and she is passionate about fostering entrepreneurship in South Africa. One of the biggest lessons she has learnt is the importance of confidence.

“This is especially as I’m often the youngest person in the room but confidence in property isn’t about being bold for the sake of it”, she maintains, “it is about being prepared, informed and grounded in your research.”

Today, Divaris oversees a wide range of projects that have helped grow the business into a diversified property portfolio, a journey built on vision, grit and a relentless focus on value creation with her position allowing her to keep her finger on the pulse of the CBD’s property trends.

A clear shift she is seeing is the move away from purely commercial buildings to flexible, mixed-use spaces that combine resource efficiency and technology.

“Tenants are no longer just looking for square footage. They want environments that prioritise sustainability, wellness and a sense of community.” This is particularly relevant in Cape Town’s CBD, where CCID data shows ongoing demand for residential and mixed-use developments, as evidenced by the 30 new or ongoing projects recorded in 2023. “Boxwood Property Fund has prioritised wellness through features like balconies, atriums, bicycle storage and shower facilities—making it easier for tenants to balance productivity with wellbeing.”

“On the sustainability side, we are reactivating rooftops, introducing greenery, and repurposing underused areas. We have achieved 4 or 5 Green Star ratings on 70% of our portfolio.”

She’s also pleased that more workers are coming back to the office. “There’s a definite return to the CBD,” Divaris states. The latest statistics as per SAPOA’s Q4 2024 Office Vacancy Survey shows the city of Cape Town had the lowest overall office vacancy rate of 6.5%.

“The vacancy rate of all the city’s office nodes are now below where they were in the middle of 2022 when the sector’s overall vacancy rate peaked. This signals renewed demand and a growing recognition of the value that in-person work offers.”

While hybrid work is here to stay, she believes companies are increasingly seeking high-quality office space that supports collaboration, flexibility and wellness.

“The office is no longer just a place to work – it’s a space for connection, innovation and culture,” she insists. Accordingly, Boxwood redesigns its buildings with this vision in mind. “Our spaces are community-driven and experience-led, featuring break-out zones, natural light, outdoor access and lifestyle-focused design,” she says. “We aim to create environments that people genuinely want to be in – not just because they have to, but because they choose to.”