Ishmael Essa's property developing company, Asrin Property Developers, is to roll out 57 freestanding homes in the first phase of the project and 50 in the second.

Asrin purchased 4ha of land alongside the proposed entrance boulevard to Royal Ascot, a development project managed by Rabie Property Projects and expected to deliver 1300 residential units in a gated community.

Funding for the Ascot Knights project has been provided by Absa Bank, which hopes to back many of the individual home loans as well.

The first home owners are expected move into Ascot Knights by July next year.

Business Day