PROPERTY investors, both individuals and syndicates, are clamouring to buy homes in the residential component of Johannesburg's Melrose Arch, says Pam Golding Properties, the marketers of the development.

"The interest has been phenomenal. Although we haven't yet officially launched the project we are already committed to meeting with more than 200 serious buyers not only from Gauteng and the rest of the country, but also from South Africans living offshore," says Ronald Ennik, chief operating officer of the real estate group and managing director of its Gauteng division.

Ennik says construction work on the first phase of 45 units which will range upwards from one-bedroom apartments at about R2m is under way.

He says investors are attracted by the mix of trendy and upmarket restaurants, clubs, hotels and topend shopping facilities.

Ennik says Melrose Arch has also attracted the attention of the corporate world.

Feb 25 2004 07:50:19:000AM Business Day Reporter Business Day 1st Edition