R10 billion mega ‘beach’ development in Joburg ready to launch

 ·21 Feb 2023

Balwin Properties is ready to launch its R10 billion Munyaka development in Waterfall City, which promises to bring “beachside living” to Johannesburg.

The gated development is expected to be completed in 2028, and will feature a man-made beach and the 3-hectare Crystal Lagoon.

This lagoon is Balwin’s second clearwater lagoon after the Blyde in Tshwane East became the first development in South Africa to incorporate a clearwater lagoon built in a beach setting.

Balwin has an exclusivity agreement with Crystal Lagoons to develop these freshwater lagoons in strategic nodes in the future.

Munyaka will comprise 5,178 one-, two- and three-bedroom apartments, some of which are lagoon and beach facing.

In addition to Balwin’s Classic offering, Lifestyle apartments and two ultra-luxurious penthouse apartments have been constructed above the lifestyle centre, offering spectacular views of the lagoon and the city skyline.

All apartments are fibre-ready, and include a Scandinavian-style kitchen, eco-friendly appliances, a balcony for outdoor entertainment and pre-paid water and electricity meters.

Prices for classic apartments in the development start at R989,900. Lagoon-facing apartments start at R3 million.

The launch of the development is being preceded by a secondary listing for the property developer on the A2X stock exchange from 28 February. The secondary listing is taking place on the eve of the Munyaka launch – 1 March 2023.

Balwin will be the tenth company from the property sector to list on A2X, joining Attacq, Equites Property Fund, Fairvest, Growthpoint Properties, Hyprop, MAS, NEPI Rockcastle, SA Corporate Real Estate and Stor-Age.

A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies. It is regulated by the South African Financial Sector Conduct Authority and the Prudential Authority of the South African Reserve Bank in terms of the Financial Markets Act 19 of 2012

Balwin is an internationally acclaimed, award winning residential property developer in South Africa, having developed over 100,000 apartments and consistently contributing approximately 3,000 new apartments to the domestic market on an annual basis.

The Company has a portfolio of almost 100 developments comprising secure, affordable, high-quality sectional title residential apartments, developed in line with international Green Building Standards. Balwin has a formidable pipeline of opportunities nationwide and are currently developing in Gauteng, Western Cape and KZN.

Balwin will retain its primary listing on the Johannesburg Stock Exchange and its issued share capital will not be affected by its secondary listing on A2X. There is no cost nor additional regulatory compliance for Balwin as a result of the secondary listing.

The listing will bring the number of instruments listed on A2X to 95, with a combined market capitalisation of R6.7 trillion.


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