Big cities have historically attracted residents who enjoy apartment living in the hustle and bustle of a major metropolis. But mini city developments offering smart, safe and sustainable community spaces and amenities outside of major economic hubs are tempting city dwellers to leave big city life behind.
Take Waterfall City, located between Johannesburg and Pretoria in the 2 200 hectare Waterfall precinct developed by JSE-listed Reit Attacq.
In the last two years there has been a big boom in residential in the Waterfall precinct’s CBD area, Waterfall City. And the products with their built-in communal spaces and amenities are very different to the stand-alone houses or walk-up apartments in the broader Waterfall node.
On the Waterfall City drawing board are over 1 000 residential units split across two developments near the Mall of Africa, the core of the “CBD”.
Attacq’s first residential offering, Ellipse Waterfall, a luxury four-tower high-rise development of 620 units developed over three phases, has already netted R1.2bn in sales. Phase one of two towers is complete with 90% of units sold, and following the transfer of 196 Ellipse units, Attacq welcomed their first apartment residents to the city. Meanwhile phase two, priced from R1.725m to R14m, saw pre-sales of 90%.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
THE HEALTH OF SA'S MEDICAL SCHEMES
As the Covid-19 pandemic abates, finweek takes a look at the financial performance of some of the largest players.
The effect of Gilbertson's departure
With Ntsimbintle Holdings now the major shareholder of Jupiter Mines, it could change SA’s manganese industry.
Making money from music
Why investors are increasingly drawn to the music industry.
Conviction is key
Sandy Rheeder plays a critical role in Mukuru’s mission to open up financial services to the emerging consumer market in Africa through tailor-made technology solutions and platforms.
The post-pandemic toolkit
How CFOs can use technology to support growth.
Big city living exodus
Mini cities like Waterfall City and Steyn City are redefining city-style apartment living.
Big compact, big value
Handsome, with a hefty level of standard specification, the roomy Haval Jolion compact crossover is a great value proposition.
On barriers to entry
There are various ways in which a company or sector can achieve competitive dominance. They usually make for good investments.
Fear and greed in one index
To buck the trend, when markets are hot or cold, is a tough thing to do. However, it can deliver solid returns.
Africa's largest data centre facility coming soon
Vantage Data Centers plans to invest over R15bn for its first African data centre facility in Attacq’s Waterfall City.
