Balwin Properties has launched its R10 billion award-winning Munyaka, a lifestyle estate development in Waterfall City, Gauteng.
Munyaka, which means ‘crystal’ in Venda, will play host to one of the biggest crystal-clear lagoons in the southern hemisphere at an approximate size of 3 hectares (30 000m2).
In addition to the crystal-clear lagoon, Munyaka will offer residents amenities such as gym facilities, on-site concierge, restaurants, meeting rooms, a swimming pool, laundromats, cinema, wellness spa and water activities such as paddle boarding and canoeing.
To ensure a community-based lifestyle and world-class security, the group has implemented a strict no short-term letting policy at Munyaka.
The first phase comprising just over 1 000 apartments has already been completed and occupation taken. On completion in 2023, the development will boast 5 020 architecturally designed fibre ready apartments, featuring a Scandinavian style kitchen, free eco-friendly appliances, a balcony or patio for outdoor entertaining plus pre-paid water and electricity meters.
The bulk of the apartments in the development that are not located around the lagoon will retail from R989 900 for a one-bedroom, one-bathroom apartment to R2 369 900 for a three-bedroom, two-bathroom garden apartment.
“No bond and transfer costs are payable and first-time homeowners and youth-buyers qualify for a 10% incentive in terms of Balwin’s campaign to provide these stakeholders with an opportunity to get on to the property ladder,” explains Steve Brookes, CEO of Balwin.
“All apartments are developed in line with IFC EDGE Advanced protocols, which means apartments are zero carbon ready and that we achieved 40% or more on-site energy savings compared to conventional building methods. We leveraged this achievement with the major banks as part of our Green Bond offering, where qualifying homebuyers will get a further reduction in their mortgage rate as a result of our greening efforts.”
“So far, we have secured 5 312 green bonds for clients, providing them with total savings of R389 million over the duration of the bond.”
The development of Munyaka resulted in several infrastructure upgrades in the node, including the improvement of Mia Road by Balwin at a cost of over R100 million.
Additional infrastructure upgrades are planned for the longer-term including the establishment of a Gautrain station within walking distance from Munyaka, the extension of the K60 from Van Der Bijl Avenue to Allandale Road, as well as the establishment of a world-class sporting facility and retail convenience centre of approximately 20 000m2.
Immediate complementary amenities that will be added to the development include a Radisson Red hotel and a Little Hill Montessori pre-primary school.
*Munyaka achieved Best Architecture and Best Leisure Development in South Africa at the 2022 Africa Property Awards.