|Ballito’s Realty1 Parsons in Ballito has started 2006 on a high note by being awarded the sole selling mandate to market the recently announced R605 million Marriott / Notae Resorts development in Umhlanga on the KwaZulu-Natal north coast. |
This development is the first of 17 African developments by Marriott/Notae Resorts in South Africa and forms part of that group’s R1,51 billion investment program in the country.
Pre-launch anticipation of the development has accounted for more than R360 million worth of apartments and villas being sold within two weeks of release even though the project has yet to be advertised.
According to a press release the 80 000 sqm development includes an International 5 Star Hotel, executive residential in the form of apartments, luxury villas, a private residency club, conference facilities and up-market high end fashion retail elements.
There will be an Arts Centre, which includes a world-class theatre, Art Gallery, Audio & Visual Studios, including an outdoor Amphitheatre, a school of excellence, a tourism centre and a mix of family and fine dining restaurants.
The project is to be officially launched early this year with a complete sellout of the more than 300 apartments and villas expected within months. Price of units range between R1,75 million and R7,5 million.
Horst Keil, MD of Realty 1 Parsons, says the development is a first of its kind in Southern Africa and involves some of the world’s biggest players. Marriott International, which is the largest hotel group in the world, according to the release, will manage the hotel.
The development will be built on the prime site in front of MacDonalds on the seaside of Umhlanga Rocks Drive with apartments offering spectacular sea and Durban Bay views.
Keil says the public will be able to purchase apartments or luxury bungalow as either an investment or a live-in home. Owners can also elect to enter their flat into the hotel letting pool.
Each apartment will be fully furnished to Marriot 5 Star specifications and have access to the hotel facilities. This includes room service, concierge, airport shuttle, housekeeping and all the facilities of a 5 star hotel.