Robust Growth: Sibaya Coastal Precinct property developer achieves R36m sales in one week
DURBAN – The Devmco Group, the company behind Sibaya developments OceanDune Sibaya and Pebble Beach Sibaya as well as Gold Coast Estate have announced that they achieved R36 million in sales in one week.
The property group made the announcement at a media briefing to talk about the growth of the company as well as give an update on the developments that are built and currently being built in the Sibaya area.
The company said that the success of R36 million in sales in one week is a direct result which has pushed the developer to release the last remaining developer stock at Pebble Beach Sibaya and OceanDune Sibaya.
Devmco Group was the first private developer to invest in the Sibaya Coastal Precinct. With their first residential development, Pebble Beach Sibaya the company achieved R675 million in sales on their launch day.
Charles Thompson, the Development Manager for the Devmco Group said, "We are passionately Durban which is the driving force behind the Devmco Group investing into the Sibaya Coastal Precinct with the development of Ocean Dune before anyone else".
"With Pebble Beach, we delivered 160 off-plan units from sale to transfer in only 14 months. Part of what had enabled us to do this was the consumers positive reaction to the launch of OceanDune and Devmcos' personalised approach to crafting designs and creating architecture with the whole family in mind," added Thompson.
The most recently launched development, Gold Coast Estate, has also had phenomenal success with 170 off-plan homes launched and 80 percent sold out in only 5 days from launch.
Devmco are also the co-developers of the Umhlanga Arch. The R1.3 billion iconic development is one of the largest mixed-use developments in the province.
Below is a breakdown of the OceanDune Sibaya, Pebble Beach and Gold Coast Estate developments:
- Launched: December 2015
- Completed: November 2018
- Total value upon completion: R900 million
- Launched: November 2016
- Completed: April 2019
- Total value upon completion: R600 million
Gold Coast Estate
- Launched: 2018
- Completed: 2021
- Total value upon completion: R2 billion
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