JOHANNESBURG - Balwin Properties, the listed sectional title home builder whose historic footprint has largely been in Gauteng, has earmarked the Western Cape as a future growth area for the company and has a vision to deliver 1000 apartments a year.
Steve Brookes, the chief executive of Balwin Properties, said the company would achieve this vision through planned developments in Gordons Bay, Somerset West and Sandown.
Brookes said it had already developed and sold more than 2200 apartments within the Western Cape and the vision it had was one of its biggest to date.
He said Balwin was already established in other areas of the Western Cape and there was now a strategic future focus on the Paardevlei Precinct within the Somerset West region.
“The Paardevlei Precinct boasts significant wetlands and conservation areas, an outlook on to the Helderberg Mountains, direct beach access and a host of facilities.
“On the back of the success of The Jade and Paardevlei Square, we have created a signature product called Paardevlei Lifestyle Estate, where we have differentiated a number of the components of the offering to align to the prestige of the area.
“Paardevlei Lifestyle Estate is the flagship to this vision and fits perfectly with our underlying vision and presents a unique opportunity for Balwin to present a premium and customised product offering,” he said.
Brookes said the Western Cape was a phenomenal location in South Africa and continued to be one of the leading destinations for semigration, migration and foreign investment.
He said there were about 488 apartment sales in the Somerset West area this year alone with a large influx of owners between the ages of 18 and 35.
Brookes added that Statistics SA recently revealed that the Western Cape would between 2016 and 2021 in all likelihood be one of the main provinces to see a large influx of international residents, with an expected increase of 311004 residents.
He said the Paardevlei Precinct offered easy access to world-famous wine farms, top quality schools and was minutes away from Cape Town International Airport and the University of Cape Town.
Brookes said with the property prices exploding in the centre of Cape Town, where apartments were sold from R2million to R15m, Balwin recognised that families and students in Cape Town and outside, as well as international investors, were looking for something more affordable yet close to all the popular and necessary amenities.
He said Balwin would be introducing cultivated luxury with its Paardevlei Lifestyle Estate, with three-bedroom, two-bathroom modern apartments selling from R1899900.
The development will provide a total of 341 apartments.
Brookes said Paardevlei Lifestyle Estate would break the mould of Balwin’s other developments by adding additional elements of luxuriousness, including additional features such as premium finishing selection options, elevators, basement parking and niche elements to the private gym, concierge, laundromat, restaurant and swimming pool he said.