Housing in Southern Africa July 2015

News

Tongaat releases Kindlewood sites

Tongaat Hulett Developments has established a reputation for excellence asoneofSouthAfrica’s leadingprivate landconversiondevelopers,having plannedanddevelopedmorethan2000haofservicedlandforresidential, commercial, industrial, resort andmixed-use purposes.

brick walls, designed to complement the natural landscape. “It also pro- vides interesting options for investors wishing to buy and rent out the units as well as for residential property developers to create a desirable living space in smaller complexes within the estate.” Kindlewood Estate shares its greater environment with the Mount Edgecombe Country Club Estates and is conveniently close to both the Umhlanga Ridge town centre and the Gateway shopping mall. The relaxed estate life encour- ages outdoor living. Security includes electrified perimeter fencing, camera surveillance and round the clock gate monitoring. Sustainability has been a key feature of the development and in- cludes water and energy efficiency initiatives such as solar power, energy saving electrical fittings, separating and recycling grey and black water to reduce water consumption and the use of air conditioning systems for ventilation, which require less power than conventional systems. Outdoors, indigenous plants have been favoured for their lowwater ab- sorption and underground rainwater is harvested and reused for irrigation. On completion the 62 hectare gated lifestyle estate will provide 573 residential units. More than one hundred sites have already been sold. Msani adds that a core element of Tongaat Hulett’s strategic vision is to maximise the value generated by optimum utilisation of land in the portfolio through its conversion to the most productive land use thereby op- timising total real estate investment on the land. ■

A lmost 8 600 hectares of land along the east coast of South Africa has been earmarked for new land conversions. Tongaat Hulett’s commitment of working in collaboration with all spheres of National, Provincial and Local Government and recognised track-record of success through its active community partnerships, of- fers extremely attractive investment opportunities in Southern Africa, at minimum risk. The latest residential sites to be released include eight sec- tional title development sites at the Planned Unit Developments (PUDs) for 215 units in the Kindlewood Es- T he Competition Tribunal of South Africa has approved a R400million land deal between the City of Cape Town and AECI. The acquisition of the 684 hectare piece of land at Paardevlei in Somerset West has been earmarked for urban and mixed use development. This property is one of the last extensive, undeveloped pieces of land within the developed footprint of the City of Cape Town. “This transaction is part of our commitment tomeeting the needs of our expanding population,” says the City of Cape Town Executive Deputy

tate. Located on the border of Mount Edgecombe, the fourth phase of the estate will also offer 10 residential sites. According to Tongaat Hulett’s Development Manager, Mondi Msani, “We expect that these will be pur- chased by several different develop- ers.” The estate offers tranquil, modern living with nature on the doorstep and green open spaces include walk- ing paths and wetlands favoured by a variety of birdlife. A contemporary Natal veranda style of architecture is characterised by green roofs and a combinationof creamandearthy face Mayor, Ian Neilson. Plans for the site will require a public participation process and will take a number of years to develop. “We are extremely pleased to have concluded the deal, which was well supported by the AECI Board of Direc- tors. We believe that the City is the right buyer since it is best placed to develop the property strategically to the future benefit of Cape Town and its people,” says AECI’s Chief Execu- tive, Mark Dytor. This agreement will allow the City to meet many of its urban develop- ment obligations. ■

City’s land deal with AECI

July 2015