Two luxury mansions linked to the Gupta brothers, whose relationship with former South African president Jacob Zuma became central to the country’s state capture scandal, have returned to the property market in Johannesburg, with asking prices of R10 million ($599,000) and R12 million ($719,000).
- Two opulent mansions tied to the notorious Gupta brothers and the South African state capture scandal are up for sale in Johannesburg.
- The lavish homes, once the scene of alleged government influence-peddling, feature unique luxuries.
- These properties are back on the market after a prior sale collapsed last year, forcing prices down by 46% below municipal value.
- Sale proceeds from the Gupta-linked estates are earmarked for creditors as part of business rescue proceedings initiated when their company entered insolvency protection in 2018.
The seven-bedroom and 11-bedroom properties are located in Saxonwold, one of Johannesburg’s wealthiest neighbourhoods. The homes are part of a compound linked to Atul, Rajesh and Ajay Gupta, Indian-born businessmen accused of using their political connections to influence government decisions and secure lucrative state contracts.
The seven-bedroom mansion, which the family allegedly occupied, 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, cinema lounge and rooftop terrace. Both properties were listed on Wednesday, with the advertisements indicating that lower offers could be considered.
Gupta mansions return to market after failed sale
The latest listings follow the collapse of a private sale last year, when the two mansions and a neighbouring three-bedroom house were sold for about 46% below their municipal valuation, according to Bloomberg.
Kurt Knoop of Manci Knoop Financial Services, the business-rescue practitioners for Gupta-linked Confident Concept Pty Ltd, said finding buyers had been difficult because of the properties’ reputation and poor condition.
The company entered business rescue, a South African form of corporate insolvency protection, in 2018.
Proceeds from any sale will go towards settling creditors’ claims. An open house is scheduled for the weekend, with prospective buyers required to provide identification and proof of funds.
South Africa’s state capture scandal
The properties featured in a government-backed judicial inquiry into alleged corruption involving more than 1,400 people and entities. The inquiry heard that influential guests were offered kickbacks and government positions at the compound.
The scandal contributed to mounting pressure on Zuma, who resigned in 2018 as the ruling African National Congress sought to stem declining electoral support. The Guptas and Zuma have denied wrongdoing.
Atul and Rajesh were arrested in the United Arab Emirates in 2022 over South African allegations including money laundering and fraud. A UAE court rejected South Africa’s extradition request in 2023, while the country provisionally withdrew its arrest warrant for Ajay in 2019.