New R10 billion estate in the works for South Africa

Affordable housing developer Alley Roads has broken ground on a new apartment development on the R10 billion Palm View Estate.

The affordable housing development is in Shakaskraal on the KwaZulu-Natal north coast, approximately 7km north of Ballito.

Palm View Estate will be the largest in the KZN, at 450 hectares, and offer over 6,000 affordable housing opportunities.

Palm View Eco Estate apartments will go on sale soon, while other houses/developments in the Eco Estate are already available for purchase.

The formal launch of Palm View Country Estate, which will offer larger stands, is planned for later in the rollout process.

The Palm View Retirement Estate is designed to offer a full retirement product, which includes assisted living facilities.

“Palm View Estate is unique in that it provides homebuyers with a complete lifestyle offering at an affordable price point that doesn’t compromise on the benefits of secure estate living,” said Alley Roads founder and Chief Operating Officer Ivan Pretorius.

“Walking and mountain bike trails will maximise the area’s pristine nature sustained by the river that runs through the estate, and residents will also enjoy the benefits of a lifestyle centre offering doctors’ consulting rooms and other amenities, including state-of-the-art security.

“For further convenience, a school and 14,000 sqm shopping mall (forming part of Phase 1) and other tertiary facilities are earmarked for development adjacent to the estate once the estate has been sufficiently developed.”

Alley Roads also acquired the development for R160 million from Sortor Investments. They will offer four single-story residential options, ranging from 40sqm to 80sqm, with two-bedroom, one-bathroom and three-bedroom, two-bathroom apartments on offer.

Selling prices of the apartment units start from under R1 million.

“The mix of homes has been carefully considered to provide a wide product range for first-time home buyers, as well as young and growing families keen on the lifestyle element at an affordable price,” said Senior Development Manager at Alleyroads, John Henry Saunders.

All units will have landscaped gardens and be developed according to IFC EDGE or EDGE Advanced credentials, making them zero-carbon ready. This will result in 40% or more of on-site energy savings compared to conventional building methods.

Solar geysers, intelligent meters, LED lighting, aluminium sliding doors and other features will contribute to energy and water savings for the purchaser.

“Because of the IFC EDGE certification and green features, homeowners will qualify for additional discounts on their mortgage rates through the banks’ green bond finance,” said Pretorius.

“All major banks have already expressed interest in financing prospective homeowners, some of whom will also qualify for further government subsidies through the First Home Finance initiative.”

Palm View estate will be completed in stages over the next five to 10 years.

The development is expected to create roughly 10,000 direct and indirect job opportunities.

The group’s policy is to reserve at least 30% of non-specialised labour. However, in most instances, the percentage increases to over 70%, with on-site training as part of the group’s Development programme.

A Community Liaison Officer will also be permanently employed to represent the local community and Alley Roads.

Renderings and construction photos of the estate of the development can be found below:

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