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20th Aug 2022

Architect Africa Online

Africa's Leading Architecture Aggregator

Devmark Property Group launches first co-living YUCO development in South Africa

Leading property company, Devmark Property Group, has launched its first YUCO co-living development in South Africa. YUCO will form part of the new Galleria precinct, an ambitious 11,4Ha mixed-use property development located at Tygervalley in the Northern suburbs of Cape Town.

Dejane Steyl, Head of Marketing: Devmark Property Group, says: “The Galleria has already attracted both national and regional head offices, as well as an international events company. Its strategic location at the epicentre of Cape Town’s second CBD means that the site benefits from multiple connections, be that roads and services, transit routes, fibre networks or as a hub where people from all spheres of life connect for business, social and retail activities. Part of the location’s allure is the comprehensive live, work, play opportunities with the backdrop of the winelands, higher education institutions and comprehensive amenities in close proximity.”

Steyl explains that YUCO is an eclectic community for young professionals, students and corporate travellers. “The name YUCO is an acronym derived from your urban co-living space. Accommodation consists of fully furnished studio apartments with luxury amenities. The term co-living refers to a form of coexistence in a space where residents share amenities and communal spaces, which are quintessential to this vibey lifestyle.”

She adds that co-living is particularly popular in cities and urban spaces where housing is costly and limited, providing a more affordable and amenity-based lifestyle. “It predominantly appeals to millennials due to rising property prices. Residents of co-living spaces typically range between the ages of 19 and 40 years, as the lower costs of living suit their lifestyle and they become part of a vibrant and inclusive community.”

YUCO will offer 380 fully furnished studios, serviced on a weekly basis. Amenities include communal spaces such as meeting, study and work areas, a gym, coffee bar, lounge areas, bar and play area, as well as communal kitchens on each floor and a courtyard with swimming pool, outdoor gym, volley ball court and more. Prices range from R659 000 to R1 050 000.

“We’re incredibly excited to launch YUCO. It will fill a massive gap in the market as there is a shortage of suitable accommodation aimed at this specific target audience. It offers excellent opportunities for both investors and buyers alike,” Steyl concludes.

The Galleria is set to become a vibrant new urban hub, a central destination in Cape Town for business people, corporations, retailers, event organisers, consumers, tourists and locals. The development will include a 4-Star hotel, retail and commercial space, lifestyle and leisure attractions, as well as YUCO, the Northern suburbs first co-living development and first of its kind in South Africa.

For further information, please visit www.yuco.co.za or contact Juanita Blaauw on 082 438 1369, Andre Cilliers on 079 517 2927 or Pieter de Swardt on 083 460 8137.


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