New benchmark set by fully sold out OceanDune - Sibaya as sales top the R900 million mark

A new benchmark has been set for property sales north of Umhlanga. OceanDune-Sibaya has officially “sold out” in record time since launching to the public a mere four months ago.  

Rendering of the South Block's exterior
Residential sales to date total over R900 million and with the further R100 million Retail segment in the pipeline, the estimated investment will be in the region of R1 bn.
The Retail element will comprise a large food wholesaler, bottle store and upmarket restaurant.
“We aim to break ground as planned around July 2016, says Charles Thompson of OceanDune Developments.
“We are extremely excited about OceanDune Sibaya as it offers investors a unique opportunity to benefit from the projected capital appreciation that comes from investing in Sibaya’s first off-plan development.  It is ideal for savvy buyers who are looking to balance capital growth with investment yield.  They not only benefit from an off-plan purchase, they also have the flexibility to rent it out at a rate that will exceed the interest gained on stagnant money sitting in the bank” he said.

Privacy and sea frontage are two key elements in this development. The tiered apartment blocks, situated at the southernmost tip of the node, feature unobstructed ocean and coastline views, safeguarded in perpetuity by the surrounding indigenous Hawaan Forest Reserve.
Investors had a selection of 260 one to four-bedroom apartments and penthouses to choose from.
“Prices ranged from R995 000 up to R17.5 million and sales to date have exceeded all expectations.   First to sell were the end units priced between R7 million and R14 million.
Of the four Penthouses, three were sold to local Durban buyers for between R9.5 million and R17.5 million – the largest being 630m²” said Thompson
OceanDune Sibaya, situated between uMdloti and uMhlanga, is underwritten by Tongaat Hulett Developments and consists of luxury seafront apartment blocks located within the new Sibaya Precinct.

Tongaat Hulett Marketing Director, Trenley Tilbrook, said the style and feel of the development is completely in sync with their vision for the Sibaya Precinct.
“This development will follow environmentally-conscious development principles by integrating urban development with our natural environment”, he said.

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us