{"id":156395,"date":"2017-02-10T07:06:59","date_gmt":"2017-02-10T05:06:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=156395"},"modified":"2017-02-10T00:07:21","modified_gmt":"2017-02-09T22:07:21","slug":"this-iconic-cape-town-hotel-is-being-converted-into-r130-million-plus-apartments","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/156395\/this-iconic-cape-town-hotel-is-being-converted-into-r130-million-plus-apartments\/","title":{"rendered":"This iconic Cape Town hotel is being converted into R130 million-plus apartments"},"content":{"rendered":"

A seaboard apartment in the Aurum redevelopment of the iconic Bantry Bay Ambassador Hotel recently sold for a R130 million – making the average\u00a0sales price of the apartments the highest rate per square metre ever sold\u00a0in South Africa.<\/p>\n

According to realtors DA’realty<\/a><\/strong>, the Aurum development will consist of two sides\u00a0– eight open-plan Presidential Residences and fifteen Luxury Residences.\u00a0Both will enjoy spectacular ocean views and superb designer specifications.<\/p>\n

“Aurum is a Latin word meaning \u2018shining dawn\u2019, while Au is the symbol for gold. Taken together, it is a name that instantly conveys the scintillating beauty of this location, along with the rich opulence of the residences themselves,” the group said.<\/p>\n

Dubai tycoon Ahsan Hassan Darvesh is the money behind the project, and he is expected to sink R750 million into the development.<\/p>\n

Set against the backdrop of Lion\u2019s Head in Bantry Bay, the affluent Cape Town suburb boasts some of the world\u2019s most\u00a0desirable coastlines including Sea Point and the Clifton 1st, 2nd, 3rd and 4th beaches. The apartments are also located within 200 metres of restaurants and entertainment on Sea Point’s promenade.<\/p>\n

Based on floor plans and a computer-generated rendering alone, an apartment in Aurum has already been\u00a0sold for as much as R130 million.<\/p>\n

The floor plans<\/a><\/strong> and renders below show what exactly the buyers will be getting when the development is finally completed sometime in 2018.<\/p>\n

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Presidential Residences<\/strong><\/h3>\n

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Penthouse apartment floor plan<\/strong><\/p>\n

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