Munyaka is located in the Midrand suburb of Waterfall, between Johannesburg and Pretoria. It offers lifestyle apartments and a 30,000 sqm lagoon waterfront.<\/p>\n
The R9 billion gated development is expected to be completed by 2028, and will comprise 5,178 apartments, ranging from one-, two- and three-bedrooms to luxurious 3- and 5-bedroom lagoon-facing penthouses.<\/p>\n
All apartments will be fibre-ready and include a Scandinavian-style kitchen, eco-friendly appliances, a balcony for outdoor entertaining, and pre-paid water and electricity meters, Balwin said.<\/p>\n
“Whenever you\u2019re not in your amazing apartment, you can laze on the beach or swim, canoe or paddle-board in the incredible Crystal Lagoon, which is the size of three rugby fields and will be completed by October 2022.<\/p>\n
“It will feature a 50-metre arched tower with a 50-seater restaurant and conference facility that looks out over the Johannesburg skyline.”<\/p>\n
A 1 bed, 1 bath Exclusive Lifestyle apartment starts from R899,900, while a 5 bed, 5 bath from R30 million.<\/p>\n
The developer said in its latest financial results that, to date, 888 apartments have been sold at Munyaka, with 4,032 yet to be sold.<\/p>\n
Balwin said it has a secure development pipeline of 51,803 apartments across 28 developments in key target nodes. This represents an approximate 15- to-20-year development horizon.<\/p>\n
Overall demand for one- and two-bedroom apartments remained strong and comprised approximately 80% (2021: 77%) of the total apartments recognised in revenue – 10,437, it said.<\/p>\n
Over the reporting period, February 2022 -revenue increased by 16% to R3.1 billion, driven by the increase in the number of apartments handed over during the year and an overall increase in selling prices of apartments<\/p>\n
Looking ahead, Balwin said that the impact of the recent increases in the SA Reserve Bank\u2019s repo rate from 3.75% to 4.25% and possible additional inflationary pressures which will likely result from recent geopolitical events is being closely monitored and pro-actively managed by the board.<\/p>\n
The group said it “remains conscious of the continued pressure on construction costs and the prevailing macro-economic uncertainty, however, management is confident that the potential increase in costs can be offset and exceeded by selling price increases that the market is able to absorb.”<\/p>\n
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