Construction of Palm Royale, a new R255million sectional title apartment block in the Oasis Luxury Retirement Resort at Century City, is underway.
The bulk earth works and construction of a 4m berm on Ratanga Road was awarded to Baseline Civils and completed in mid-December. Esor Frankie also moved on site late last year to undertake a R1.6m piling contract which is due for completion at the end of January.
The main building contract for the 11 storey block of 58 luxury apartments has been awarded to WBHO. This contract will commence in January 2013 and is scheduled for completion at the end of April 2014.
Colin Green, a director of Rabie Property Group which acquired a 50% stake in the Oasis Joint Venture in August last year, said the two and three bedroom units are selling for between R2,5million and R8million and total sales to date had exceeded R100m.
Apartments range in size from around 102 square to 263 square metres and vary from garden apartments to ”homes in the sky”. Many of the apartments boast spacious balconies suitable for entertaining and storerooms. All units will have one or two basement parking bays.
Palm Royale comprises phase three of the award-winning development. The first two phases consisted of the Club House, the Care Centre and the first two blocks of apartments – Palm Grove and Palm Spring. Only one of the 174 apartments in these blocks remains to be sold with sales to date exceeding R330million.
Palm Royale will be linked undercover to the Oasis Club, the facilities of which are also to be extended in terms of the current construction contract. The well-equipped Oasis Club, which offers both indoor and outdoor facilities, includes a 25m indoor heated pool, massage room, sauna, steam room, fully equipped gym, a library, lounge areas, a restaurant, bar and billiard room. New facilities will include a hobby room and a 200 seater multipurpose entertainment venue positioned over a large water body.
The Oasis Care Centre, which is on the property, offers hotel-style assisted living apartments and frail care. Its license was recently upgraded by the Department of Health from a Sub Acute discipline to a Physical Rehabilitation discipline. It has also been issued a Practice Number by the Board of Health Funders of SA (BHFSA) which allows for Medical Aid patients to be admitted.
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