DURBAN - Property developer Vivian Reddy was expecting to clinch R10million in sales at his mega-luxury Oceans apartments and the neighbouring hotel this Easter weekend, but got R50m instead.
“It really surprised me that despite the gloom and doom, people are positive and investors still have confidence in the country,” he said.
He added that most of the sales made this weekend were from Johannesburg holidaymakers.
Reddy had launched a new advertising campaign to sell the last few remaining apartments in his Oceans uMhlanga residential development, as well as residential investment apartments above the five-star Radisson BLU hotel that will go up.
“We did 14 sales altogether, and one visitor who bought a R9m apartment said that he fully expected to get R30m for his apartment in 10 years’ time,” Reddy said.
“He also said that he would rather invest in South Africa than in America where there is uncertainty.”
There is now only a handful of apartments left in both developments to sell.