Residential developments buck low demand, slow sales trend
TWO ground-breaking residential developments to the north of Durban have completely sold out, bucking the overall national property trend of poor demand and slow sales, symptoms of a struggling economy.
The two Tongaat Hulett developments – Kindlewood and Izinga, both close to uMhlanga’s Gateway Theatre of Shopping – have shown strong demand and sales, and even resales, said Mondli Msani, the development manager of Tongaat Hulett Developments.
Seven years ago, Tongaat Hulett Developments set out to create South Africa’s leading lifestyle environment with residential developments that are characterised by distinctive architecture, state-of-the-art security designs, indigenous landscaping and sustainable lifestyle features.
A variety of green building practices and various technologies had evolved together with Kindlewood and Izinga, including water recycling and solar energy being incorporated.
Kindlewood was launched in 2006 and, by March this year, all four phases of the development, involving 600 units, were fully subscribed. The first phase is complete, while the other phases are under construction.
The fifth and final phase, comprising high-end residential and retirement homes, is due to launch next year.
Izinga is quite different to Kindlewood, being a combination of estate and open suburb, while offering similar lifestyle features.
Although mainly residential, there are several religious sites, an educational facility and a convenience centre.
Being close to the King Shaka International Airport, many professionals from Gauteng now commute while relocating their families to Izinga.