Black owned: Asrin Property Developers launches water's edge Falcon Crest venture

Posted On Saturday, 05 October 2002 11:48 Published by
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'Top notch fittings' for Tyger Falls project
THE MVELAPROP Tyger Falls development has succeeded in attracting yet another developer, one of the leading black owned and managed Cape development companies, Asrin Property Developers.

This company is currently involved in six projects in the Cape, some now all but complete. Every one launched so far has been a sellout within a few weeks of the launch.

The new venture will be called Falcon Crest and it will occupy one of the prime Tyger Falls sites, on the water's edge and approached from Bill Bezuidenhout Avenue via motor and pedestrian bridges across the Elsieskraal River.

Designed by dhk Architects in a striking Cubist style with sections of the facade emphasised by the use of facebricks, the new complex will have five storeys and a double parking sub-basement capable of holding 135 vehicles. 750m2 of the ground floor will be given over to five soft retail outlets, restaurants and coffee shops. Asrin intend to keep ownership of the retail space themselves - and will also administer it.

The 67 units above the ground floor will vary in size from 66m2 to 177m2 and in price from R430 000 to R1.4 million. The top floor will consist of five penthouse loft apartments with extensive glazing and balustrading. Most units in the block will have views across the Cape Flats to False Bay and the Durbanville Hills.

Twenty percent of the units have already been sold - through Heico Property Solutions - prior to any announcement or advertising.

Ishmail Essa, CEO of Asrin, said that 'as always' his company would ensure that the fittings and features were 'above expectation'. All units will have designer kitchens with granite tops and such features as DSTV compatibility and underfloor heating and the complex will have its own high speed lifts.

The launch date is now set for October 12. Essa said that he expects to be fully sold out by the end of November.

The building contract is being negotiated with Murray & Roberts (Cape) and will begin in January 2003 and first occupation should take place before the end of November of that year.

'The trend at Tyger Falls has been for both short and long term investors to comprise at least 30% of the client base,' said Essa. 'This is an indication that the investing public recognises that Tyger Falls will offer everything that today's buyer is looking for: top level security, a beautifully landscaped environment, entertainment and recreational facilities on site and easy parking for both residents and their guests.

'Our project has the additional advantage that the dhk design is, I feel, outstanding and will make it one of the most admired new buildings in the northern suburbs.'

For further information telephone Heidi Aucamp on 021 914 9370.

Publisher: Weekend Argus
Source: Weekend Argus

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