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Growing popularity has seen this KwaZulu-Natal estate secure more than R160m in new sales over the past quarter alone. We find out more about what makes this estate so attractive
WORDS: FRED FELTON – PHOTOS: SUPPLIED BY ZIMBALI LAKES
There seems to be a huge demand for a lifestyle on the coast. Families are seeking modern estates with all the latest amenities and in close proximity to the beach, nature walks and shopping centres. Located on the north coast of KwaZulu-Natal, it’s no surprise that Zimbali Lakes has attracted a lot of investor attention. Over the past three months, it has secured more than R160m in new sales across its portfolio of suites, single residential erven and planned unit development sites.
In Q4 of 2021, construction will also start on a number of lock-up-and-go and freestanding apartments, with demand for these types of units growing so much from buyers across the country that there is now a waiting list to purchase. The Zimbali Boulevard Suites (ZBS) development team has also appointed a new contractor, Concilio Group, with more than 15 years of experience in the industry. Tarring and kerbing of access roads and the installation and commissioning of services in phase 1A of the main development node should be completed by mid-September. Work on the upgrades to access roads and the construction of a circle is well under way with anticipated completion set for early Q4 of 2021. Construction of the 18-hole golf course will commence during the first quarter of 2022. The look of Zimbali Lakes will also start to change in the coming weeks when property transfers will begin to take place. Boulevard Edge luxury apartments, which form part of Zimbali Lakes, are selling for less than R2m.
At the time of writing this article, only four out of 32 of these units remained available. According to sales and marketing manager of Zimbali Lakes, Dave McGregor, the interest in the development has been phenomenal with 85% of the first phase sold out. “The transformation of this node into a work, play and residential hub is nearly under way,” says McGregor. He also says that properties in this phase will lodge for transfer next month. “There is a strong mix of local and semigration buyers from the inland provinces who want to work and live in their previous holiday destinations,” says McGregor.
The Zimbali Lakes Resort is expected to generate more than R10bn in sales and resales over the next decade. This will help to create more jobs and stimulate the economy in KwaZulu-Natal. The development will create more than 8,000 jobs through the construction phase, and as the development reaches maturity it is anticipated to create more than 3,000 permanent jobs. The Zimbali Lakes Resort will offer 24-hour security, including biometric access control, infrared cameras, fibre optic enabled communications and state-of-the-art technology. Zimbali Lakes is also situated near the tourist hotspot of Ballito, as well as King Shaka International Airport. Durban and Umhlanga are also a short drive away.
According to eThekwini mayor, councillor Mxolisi Kaunda, Durban recorded 34,500 visitors over the long weekend from August 7-9, with a direct spend of R46m and a GDP contribution to the economy of R113m. For a virtual tour of the development visit www.zimbali.co.za or WhatsApp 060 392 1825 for more information.
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Syndicated content from Everything Property