Gupta mansions in Saxonwold back on the market

Two luxury mansions linked to the Gupta family have returned to the property market in Johannesburg, with asking prices of R10 million and R12 million respectively.

The properties, situated in Saxonwold, are associated with Atul, Rajesh and Ajay Gupta, whose links to former president Jacob Zuma became central to South Africa’s state capture scandal.

READ | Two Gupta brothers still wanted by Interpol – Firoz Cachalia

According to Bloomberg, the one property, a seven-bedroom mansion, features an indoor swimming pool, a thatched outdoor entertainment area, a mini cricket pitch, water features and a garden containing endangered cycad plants.

The neighbouring 11-bedroom property includes a beauty parlour, a cinema lounge and a rooftop terrace.

According to the property advertisements, sellers may consider offers below the asking prices.

Gupta properties struggle to attract buyers

The latest listings follow a private sale of the properties last year that fell through. At the time, the two mansions and a neighbouring three-bedroom house were sold for approximately 46% below their municipal value.

Kurt Knoop of Manci Knoop Financial Services, the business-rescue practitioner for Gupta-linked company Confident Concept, said the properties had been difficult to sell because of their association with the scandal and their condition.

“We’ve been battling to find buyers due to the stigma associated with the properties, and because of the poor state they’re in,” Knoop said.

However, he added that discussions with prospective buyers were under way and expressed hope that a sale could be concluded soon.

Confident Concept entered business rescue in 2018. Proceeds from the sale of the properties will help settle claims from creditors.

An open house is scheduled for this weekend, with prospective buyers required to provide identification and proof of funds before viewing the properties.

Mansions linked to state capture inquiry

The Saxonwold properties formed part of a compound associated with the state capture scandal, which involved allegations that private individuals used their relationships with political leaders and public officials to influence government decisions and secure state contracts.

A government-backed judicial inquiry into state capture heard that the Gupta brothers held private meetings at the properties. Evidence presented to the inquiry included allegations that influential guests were offered kickbacks and government positions in exchange for assistance in advancing the family’s interests.

The Guptas and Zuma have denied wrongdoing.

The scandal contributed to mounting political pressure on Zuma, who left office in 2018 as the African National Congress sought to stem declining electoral support.

Gupta brothers’ legal battles

The Gupta brothers left South Africa for Dubai shortly before Zuma resigned as president.

Atul and Rajesh Gupta, who have faced South African allegations including money laundering and fraud, were arrested in the United Arab Emirates in 2022 after Interpol placed them on its most-wanted list. They were also sanctioned by the United States and the United Kingdom.

In 2023, a UAE court rejected South Africa’s extradition request, and the arrest warrant was cancelled.

South Africa provisionally withdrew its arrest warrant for Ajay Gupta in 2019.

The return of the Saxonwold mansions to the market highlights the continuing challenge of selling high-value properties associated with one of the country’s most prominent political scandals.