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
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us