DURBAN - The property value of Umhlanga has increased by almost R3.4bn during the years 2009 and 2013.
Over the last 20 years that total value has been raised to R10bn. Umhlanga Ridgeside, which has been seen as the crown jewel of the area, value will increase with the addition of the Enigma Private Estate.
The estate has 90 freehold residences that are a maximum of 1500m2 and the homes starting price at R3,510m. The property value once the homes are fully developed is R870m which will further add to the value of the Umhlanga area.
According to Stefan Botha, leaders in industries of the world come to Enigma Private Estate because it is located in the heart of Umhlanga. Botha further added that 60% of the estate had been sold three months previously and with Umhlanga being known as the highest value areas in South Africa, the estate will provide a profitable investment opportunity.
Umhlanga value will continue to grow as the interchange will be completed by 2018 and Umhlanga Arch, a multi use development, will be developed that will bring in an extra R600m value to the area.
Another R3bn is expected to come with the high end developments that have been integrated with malls like Pearls Mall and R3.1bn will add to the value due to the Oceans Umhlanga development.
- BUSINESS REPORT ONLINE