IN BRIEF:

Finweek English Edition - - IN THE NEWS -

“Vi l l a ge f e e l ” a par t ments: R1.65m-R3.9m

River and f air way f rontage free­hold stands 800m2–4 000m2: R2.3m-R16m

Clus­ters 350m2 on 400m2-600m2 stands: R6.2m-R8.4m:

Ul­tra-lux­u­ri­ous 350m2 apart­ments: R13.9m

Six 800m2-900m2 show homes: R16m-R22m

One- bed apart­ment av­er­age rental: R10 000pm

Es­ti­mated first-year rental yield: 6%-8% Jobs cre­ated: 11 500 Park­lands: 404 hectares Phase 1 in­fra­struc­ture: R6bn Phase 2 in­vest­ment: R50bn+ up­grade from Four­ways Life through to Steyn City and has part­nered with gov­ern­ment to ex­tend the Wil­liam Ni­col through to the N14.

LOOK­ING AHEAD

Not one, but two city cen­tres will make the es­tate’s cit y cen­tres three times larger than Mel­rose Arch, says COO Gary Lees. The f irst, cur­rently un­der con­struc­tion and cost­ing R2.2bn, is due to open in 2018. The Euro­peanf lavour city cen­tre fea­tur­ing an open square pi­azza with fold-away roof, will of­fer a se­lec­tion of restau­rant, re­tail and com­mer­cial spa­ces, 700 apart­ments and 2 000 park­ing bays. The sec­ond city cen­tre is sched­uled for com­ple­tion in 2022. Set to break ground in 2015 will be a pri­vate school cater­ing for pre-school­ers to Grade 12, and a med­i­cal fa­cil­ity. Also on the cards is a re­tire­ment vil­lage.

At the end of Phase 1, six res­i­den­tial sub­urbs will be com­plete. An­other three res­i­den­tial sub­urbs and the t wo city cen­tres will be com­pleted in Phase 2 at a cost of more than R50bn. It would seem that no dream is too big, and Steyn and Plumari are prov­ing that.

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