JSE-listed national property developer, Balwin Properties has set its sight on the Western Cape as a future region of growth and expansion in terms of the number of units planned and with regards to the establishment of a premium offering within the brand.
The group has sold over 2 200 apartments within the Western Cape, with the vision to deliver 1000 more homes each year. This will be achieved through developments planned for Gordons Bay, Somerset West and Sandown.
Steve Brookes, CEO of Balwin Properties explains:
‘The Western Cape is a phenomenal location in South Africa and continues to be one of the leading destinations for semigration, migration and foreign investment. This year alone saw around 488 apartment sales in the Somerset West area with a large influx of owners between the ages of 18 – 35 years. Stats SA recently revealed that between 2016 to 2021‚ the Western Cape will in all likelihood be one of the main provinces to see the largest influx of international residents, with an expected increase of 311‚004.”
A strategic focus is going forward with regards to the Paardevlei Precinct within the Somerset West region: “The Paardevlei Precinct boast significant wetlands and conservation areas, an outlook onto the Helderberg Mountains, direct beach access and a host of facilities. On the back of the success of The Jade and Paardevlei Square we have created a signature product called Paardevlei Lifestyle Estate, where we have differentiated a number of the components of the offering, to align to the prestige of the area. This development has already achieved the highest accolade for the ‘Development Apartment’ category for the Africa region, by the International Property Awards in 2016 and again in 2018.”
“We have identified the Paardevlei Precinct as one of the prominent and affluent areas within Western Cape as it offers easy access to world-famous wine farms, top quality schools, it’s merely minutes away from Cape Town International Airport and The University of Cape Town. With the property prices exploding in the centre of Cape Town where apartments go from R2 million to R15 million; we understand that families and students in Cape Town and outside, as well as international investors, are looking for something more affordable, yet close to all the popular and necessary amenities,” continues Brookes.
“Utilising the expertise that Balwin has become synonymous with through our other developments, Paardevlei Lifestyle Estate breaks the mould by adding additional elements of luxuriousness. These include additional features such as elevators, basement parking and niche elements to the private gym, concierge, laundromat, restaurant and swimming pool. We will also be offering certain premium finishing selection options which is a new addition to our development offering,” says Brookes.
“The vision we have for the Western Cape is one of our biggest to-date, and we are eager to see it realised. Paardevlei Lifestyle Estate is the flagship to this vision and fits perfectly with our underlying vision and presents a unique opportunity for Balwin to present a premium and customised product offering” he concludes.