JSE listed Balwin Properties, a developer that cares about environmentally responsible building practices recorded record opening weekend sales at its R9 billion development in Waterfall, Midrand.
“We’ve been absolutely inundated by interested buyers over the past four days,” commented Steve Brookes, founder and CEO of Balwin Properties.
“We achieved sales totaling R850 million since opening to the public on Thursday last week with a record 555 apartments sold to date. Sales have been spread across all units, with our entry point of only R799 000 providing access to an unsurpassed lifestyle. Both the R30 million ultra-luxurious penthouses have also been sold,” Brookes added.
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.
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.
The bulk of the 5 020 apartments will consist of Balwin’s core model of architecturally designed, high-quality one, two and three-bedroom apartments starting from R799 000, and will include appliances such as a fridge, stove, washing machine, tumble dryer and dishwasher in the sales price.
In addition, Balwin will develop two ultra-luxurious penthouses with a 180-degree view of the Crystal Lagoons® amenity, expected to be marketed at R30 million each, as well as four super luxurious lagoon facing units, which is expected to sell for R10 million each.
“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.”
The freshwater Crystal Lagoons® amenity at Munyaka will be the largest in the southern hemisphere, covering an area of approximately seven rugby fields. The lagoon will feature a landmark 50-meter high tower with amenities including a 50-seater restaurant and conference facility with a commanding view of the Johannesburg skyline as well as zip-lining from the tower into the lagoon and a heated pool, fed by the lagoon. A wide range of non-motorised watersport activities will be available through the lifestyle centre.
All residents at Munyaka will have access to the lagoon as well as a 6-star green rated VIP lifestyle centre with an on-site gym (free access), a spa, cinema room, meeting rooms, restaurants, laundromats and concierge facilities. Access to these facilities will be biometrically controlled to add to the safety and security of residents.
Free wi-fi will be made available at the lifestyle centre as well as around the beachfront area, where pergolas will offer cellphone charging facilities.