The infrastructure for 107 stands in phase one of the R150 million Mooikloof Heights residential estate is complete.
 
Mooikloof Heights is a joint development between Nedbank and Richland Property Organisation, who purchased the land in 2005.  The 300Ha estate is situated on Garsfontein Road adjoining the exclusive suburb of Mooikloof, Pretoria.  The estate will be built in four phases over four  years.  Phases one to three will comprise 289 one-morgen stand.  Phase four has been zoned for high-density living.

To date, phase one is sold out, phase two is 75% sold, and 50% of the phase three stands sold.  Marketing of the phase four units are still in the design phase and will only be released during 2007.

Ken Reynolds, Divisional Director for the Gauteng division of Nedbank Corporate Property Finance said that the banks involvement in the estate is part of its strategy to round out its portfolio by including residential property development. “Our aim is to offer clients a full finance service across the commercial, retail and residential property sectors.  Mooikloof Heights represents the quality of residential property development on which Nedbank Property Finance focuses.”

Johan Franck, Managing Director of Richland Property Organisation said that the development has more than lived up to expectations.  “When we invested in this development, indications were good that the appetite for country living combined with excellent security would increase.  The phenomenal response to Mooikloof Heights has proven this assumption correct.”