Balwin Properties recently launched their R9bn development in the Waterfall node, aiming to launch over 5000 apartments over the next eight years.
As South Africa's largest sectional title developer, Balwin Properties has rolled out residential estates in high-growth, high-density nodes since its launch and its latest project, Munyaka is no different.
Located within the fast-growing Waterfall node in Midrand the project is a R9bn dream that will not only see the launch of 5,020 apartments but also the largest man-made "Crystal Lagoon" water feature in the southern hemisphere at about seven rugby fields, CEO Stephen Brookes said.
“This will include a six-star green-rated lifestyle centre offering free gym facilities, squash courts, on-site concierge, restaurants, meeting rooms, a heated swimming pool, laundromats, cinema, wellness spa and children’s play area,” Brookes said.
Construction of the spectacular lagoon, boundary wall, gatehouse, lifestyle centre and show apartment block has already commenced with the balance of apartments being rolled out over the next eight years. Balwin is further investing significantly in road infrastructure around Munyaka, having already completed Mia drive at a cost in excess of R100 million.
Included in the development are two beachfront penthouses which according to Balwin could sell for R30m each.
A further four beachfront units will be developed at Munyaka, selling at R10m each, and the balance of the development will consist of apartments with one, two- and three-bedroom units which include appliances such as a fridge, stove, washing machine, tumble dryer and dishwasher in the sales price starting from R799,000.
“Munyaka, which translates to 'crystal' in Venda, is set to be the crown jewel in our development portfolio. We have worked very closely with our architects to bring something exceptional to SA sectional title buyers and believe it will not only set a new standard for lifestyle estate living in Waterfall, but indeed in the country,” said Brookes.
Balwin recently concluded an exclusivity agreement with Crystal Lagoons, a Chilean company which designs man-made waterfront features, for SA.
Brookes said Balwin would develop freshwater lagoons in Johannesburg, Pretoria, along the KwaZulu-Natal coast, the Western Cape and Mbombela.
The “lagoon” will feature a 50m high tower with a restaurant and conference facility.
“Nonmotorised watersport activities will be available through the lifestyle centre,” he said.
The company carefully matches its rate of construction against its rate of sales but given the success of its development of The Blyde in Pretoria East (the site of the first Crystal Lagoon amenity in sub-Sahara Africa) demand is expected to outstrip supply significantly.
I’m a strong believer in the prospects of our country. We can and will turn SA Incorporated around,” Brookes commented. “I’m so confident in the success of Munyaka and South Africa, that I have pledged to buy one of the penthouses for my family. It will not only set a benchmark for penthouse living in the Waterfall node but will offer access to a unique and very compelling lifestyle offering.”