Luxury private estate, Steyn City, is launching the next phase of its development vision, which will introduce ‘old-town’ luxury apartments, a heliport, and a clear water beach lagoon.
The 900 hectare estate is located between Fourways and Lanseria in Johannesburg, and is the largest estate in the country in terms of land size.
It was first launched in 2015 by developers Douw Steyn and Giuseppe Plumari, and drew R6.5 billion in investment for infrastructure, which also went to supporting infrastructure for the greater region, including roads, water and sewerage.
Over 1,000 residents already call the Steyn City home, and initial phases of residential developments are already completed, with new homeowners set to move in early next year.
Now, a further R5.5 billion is being invested into the next phase of development, which will deliver a new ‘entirely pedestrianised’ city centre with luxury residential apartments, featuring basement parking and a network of sub-basement service tunnels for refuse.
“It’s a highly anticipated addition to a destination which has already become known as a leader and trendsetter. This is evidenced by the increase in property values, even at a time when high end properties have seen negative growth in a flat market,” the developers said.
Buyers who purchased at launch date have already seen their land value appreciate by 15-18%, with one example being of a stand that was purchased for R2.85 million, and then sold for R3.9 million.
One of the key new features is a clear water beach lagoon. This is a similar concept to the ‘beach in Pretoria’ that forms part of The Blyde in Pretoria.
The City Centre will also function as a world class, smart city – being entirely self-contained, fitted with its own water reservoir and generators to protect against disruptions to services.
There are also plans to build a new college within the estate.
The vision for Steyn City can be seen below: