Over the 41 years that Rabie has been a property developer in South Africa, we have weathered many storms and celebrated numerous successes. Characteristic of the property industry is that it’s made up of various ebbs and flows, particularly sensitive to a country’s economic health. The most recent dips in property growth and the general depression in the economy is no exception.
The recent successful launch of our exciting new development Bridgewater One, has reinforced our perception that the market conditions are changing, with much more movement anticipated in the next two to three years. Bridgewater One will comprise of a residential component of 122 apartments, an 80-bed luxury hotel, sectional title studio offices, a larger corporate office building and a small retail component. Having sold out 70% of our apartments within the first week, we are confident that offering a well-priced product, in a safe and secure location and underpinned by an experienced precinct developer, will continue to make great investment sense.
The wheels might be turning slowly, but things are shifting. It is vital that Government speeds up reform and starts setting examples against corruption. The general forecast is that the current GDP of 0.5% will grow three to four times over the next couple of years, which will start to create more employment and in so doing, contribute towards the prosperity of the country and its population.
As a property developer in South Africa, you sure need to have nerves of steel!
We believe that the development of safe, pristinely maintained and managed precincts creates ideal investment environments. Based on the great success of what has been achieved to date at Century City, we remain positive that the extraordinary lifestyle the precinct offers, is second to none. With the combination of a well-designed development plan and spaces of exceptional quality – all superbly managed – we have been able to create homes that people love and commercial and retail spaces in which businesses can thrive. This is all underpinned by fantastic outdoor areas – kilometres of walking and jogging paths, canals and the natural jewel of Century City – Intaka Island.
Century City is also the country’s foremost Smart City, which include state of the art security, intelligent management systems and advanced environmental practices. Our open access fibre network was the first of its scale in South Africa when we launched it almost a decade ago.
We are very enthusiastic to launch Oasis Life, our retirement product, which will be run on a hotel-type hospitality model and on a life rights basis. We have launched the first development at the end of 2018 and will be launching a further two this year, with our focus being on the Western Cape.
In Durbanville, we’re currently completing our fully furnished show houses in the spectacular Clara Anna Lifestyle Estate, of which a significant portion has been sold off plan already. These contemporary, spacious homes will be available for viewing from mid-November.
In Century City, on the opposite end to Bridgewater One, facing North, our Oasis Life Century City retirement high-rise luxury apartments will be launching on 7 November, with construction to commence early to mid-2020.
Perfectly nestled between North and West, our successful Burgundy Estate is the location of our third Oasis Life development, with a combination of free-standing homes and apartments, which will launch on 21 November with our first showhouses currently under construction.
We believe that our retirement homes will add incredible value to the lives of its residents. We’re offering a superior lifestyle, rather than merely bricks and mortar and are excited to be providing exceptional homes and environments to our retirees.
At Rabie, we remain future focused. Our past experiences guide us, but never hold us back. We have confidence in striding forward – looking ahead and taking a long-term view. We believe in seeing the glass half full, as we continue our contribution in building and positively influencing the way people live, work and play in our beautiful city.