|JSE listed Balwin Properties, a developer that cares about environmentally responsible building practices and the delivery of high-quality apartments to its valued clients, today announced the development of Munyaka, a R9 billion development in Waterfall, Midrand.
Steve Brookes, founder and CEO of Balwin Properties, commented:
“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 South African sectional title buyers and believe that it will not only set a new standard for lifestyle estate living in Waterfall, but indeed in the country.”
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 and will include appliances such as a fridge, stove, washing machine, tumble dryer and dishwasher in the sales price. One-bedroom apartments will start from R799 000.
In addition, Balwin will develop two ultra-luxurious penthouses with a 180-degree view of the Crystal clear Lagoon, 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.”
Balwin recently concluded an exclusivity agreement with Crystal Lagoons for South Africa, which will see the company develop freshwater lagoons in six strategic nodes in Johannesburg, Pretoria, the Dolphin Coast, the Western Cape and Mbombela. Crystal Lagoons is a multi-national company with offices worldwide and has developed an innovative concept and technology, patented in 190 countries, allowing for the construction and maintenance of unlimited size bodies of water, in crystal-clear conditions, at low cost.
The freshwater Crystal Lagoon 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, movie theatre, 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.
“The support of the Waterfall Management Company has been outstanding in making this development a reality. Munyaka Crystalline Lagoon will have an important impact on the long-term sustainability of the Waterfall node and we look forward to our continued relationship, especially as we continue to develop road infrastructure in the area,” concluded Brookes.
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