In May 2007 Ponte changed ownership and a re-development project "New Ponte" was put in motion.
David Selvan and Nour Addine Ayyoub under Ayyoub's company, Investagain, planned to revitalise the building completely.
The planned development would have contained 467 residential units, retail and leisure-time areas.
Over the next few years, the Johannesburg Development Agency planned to invest about R900 million in the areas around Ponte City such as the Ellis Park Precinct project as well as an upgrade of Hillbrow and Berea partly in preparation for the 2010 FIFA World Cup.

The subprime mortgage crisis caused the banks not to provide the funding required to finish the revitalisation and so the project was cancelled and ownership was given back to the Kempston Group.
In May 2007 Ponte changed ownership and a re-development project "New Ponte" was put in motion. David Selvan and Nour Addine Ayyoub under Ayyoub's company, Investagain, planned to revitalise the building completely. The planned development would have contained 467 residential units, retail and leisure-time areas. Over the next few years, the Johannesburg Development Agency planned to invest about R900 million in the areas around Ponte City such as the Ellis Park Precinct project as well as an upgrade of Hillbrow and Berea partly in preparation for the 2010 FIFA World Cup.
The subprime mortgage crisis caused the banks not to provide the funding required to finish the revitalisation and so the project was cancelled and ownership was given back to the Kempston Group.
Ponte City Apartments