One of the big attractions of life at the Investec owned-Rabie managed new residential estate, Royal Ascot in Milnerton, is that a short stroll across a green belt makes it possible every morning of the week for residents to have a trackside view of some of the Cape's finest racing thoroughbreds in training.

"Make no mistake," said Peter Smith of Nedbank Property and Asset Finance which has funded many of the sub-developers at Royal Ascot, "this is a very pleasing sight and adds greatly to the value and appeal of Royal Ascot - quite apart from the fact that the track itself will remain a large green belt in perpetuity."

All the stabling and most of the fast work at Milnerton is done 600 metres away across the other side of the oval sand track - but for those people prepared to rise at 5:30 or 6:00 a.m. and enjoy a cup of coffee and a sandwich on the west side of the palisade electrified fence, there will always be close up views of horses doing distance and stamina work and therefore using the full track.

"Regular watching of these horses," said Martin Epstein of Swish Developers, whose project, Coral Grove, is now into its second phase, "has become an early morning ritual that certain residents really enjoy."

Rabie Projects Manager, Mark Bezencon, said that Royal Ascot is running well ahead of its schedule.

"With 600 homes sold out of a total of 1300 and with a further 200 coming on stream in the first half of 2004," said Bezencon, "Royal Ascot, I believe, can now lay claim to being one of the three most successful large scale residential developments currently on the go at the Cape."

Careful monitoring of all designs and the insistence on high standards for the landscaping, the road works and the newly created wetlands as well as the far sighted decision to preserve two major fynbos areas, said Bezencon, had ensured that Royal Ascot, while still providing units often 40% less expensive than those of homes in surrounding areas, now has an upmarket, place-to-be image. One result of this, he said, is that certain homes are already selling at over 20% of what was paid for them a year to 18 months ago.

For further information please contact John Chapman on 021 762 7080