The potential and promise that is evident in Sitari Country Estate is coming to the fore more and more as the estate starts taking shape 2 years into its estimated 7-year journey to completion.
This has been recognised by Sitari scooping a top award at the International Property Awards in the Africa & Arabia category, which included developments from as far afield as Dubai, Seychelles, Ghana and Uganda. The International Property Awards are open to residential and commercial property professionals from around the globe and celebrate the highest levels of achievement by companies operating in all sectors of the property and real estate industry.
Sitari Country estate received the 5-star award for Best Residential Development South Africa. By winning this award Sitari is automatically entered as a nominee for the Best Residential Development Africa, the winner of which will be announced at a gala event held in London, UK, later this year.
Said John Coetzee, Executive Director of Uvest Property Group, developers of Sitari Country Estate: “We are ecstatic to have taken this award for Best Residential Development in South Africa – at only 2 years old. This is the second year in a row that Sitari has won awards at this prestigious event. Last year we took the award as Highly Commended – Best Residential Development South Africa, as well as for the best developer website”.
“We are very fortunate to see Sitari Country Estate perform so well locally and internationally. A great deal of time and effort has been spent on ensuring that Sitari is viewed as a premium country lifestyle destination with a range of exclusive products that suit a wide range of buyers. The market has fallen in love with Sitari and our owners are benefiting from it. Our record-breaking sales certainly indicate the estate’s appeal, and we are already seeing exceptional price growth. In September 2014 we released the development to the market with country plots starting from R530 000. Precisely two years on the entry prices for country plots have shot up to R895 000. This constitutes an impressive capital growth rate of 34% per year”.
“As far as apartments are concerned, we also launched our first scheme in 2014, and a two bedroom, two bathroom apartment cost R1.115m at the time. The same apartment 2 years on is now selling for R1.385m. This equates to an increase of close to 12.5% per year. Again this represents exceptional growth – yet remains affordable when compared to areas like Stellenbosch and Cape Town, where prices for similar sized apartments can easily reach between R2.4m and R3.2m respectively. Our purchasers don’t simply want to come and live in this superb estate, they also wish to know that they have made a solid investment – and this has been and certainly continues to be the case”
“Being recognized internationally for our accomplishments to date is the cherry on the cake, and inspires us to do even more to transform Sitari into one of South Arica’s leading lifestyle estates.”