KwaZulu-Natal Correspondent
DURBAN A R2bn ecoestate development will pump another 1700 residences, an executive golf course and boutique hotel into Ballito.
The KwaZulu-Natal north coast town is experiencing rapid growth, driven largely by companies relocating to the Umhlanga Ridge office developments.
People hoping to avoid commuting through the Durban city centre, are seeking homes further along the north coast.
Last year R100m was invested in various Ballito developments, including the construction of the Lifestyle Shopping Centre.
This week, éLan Projects announced phase one of a 322ha eco-estate on the Ballito northern boundary, which MD Mark Taylor said would bring about 1300 new homes into the market with 50% available for cluster developments.
Phase two would add another 350 homes, the golf course and hotel.
He estimated the average property in the Simibithi estate to be worth R1,5m, valuing the development at more than R2bn. Phase one would be developed over the next five years, while phase two would be released to the market by the middle of next year. Taylor said an executive golf course was designed to enable players a nine-hole game within one hour.
The proposal was being fast-tracked via the Development Facilitation Act and town planning approval is expected within the next week. Thereafter, the plots can be released to the market. Plot sizes range from 1200m² to 2000m² with prices ranging from R375000 to R635000.
Taylor said the land, zoned for agriculture and under sugar cane farming, did include wetlands. The development had taken this into account and the design would allow for the free movement of small antelope in the estate.
Taylor aimed at having two show houses completed by December.
Aug 08 2003 07:19:11:000AM Nicola Jenvey Business Day 1st Edition
Publisher: Business Day
Source: Business Day
700 luxury homes for booming Ballito.
Posted On Friday, 08 August 2003 02:00 Published by eProperty News
DURBAN A R2bn ecoestate development will pump another 1700 residences, an executive golf course and boutique hotel into Ballito.
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