Property plans for midlands

2008-04-10 00:00

DESPITE a tougher residential property market, a national development group has committed itself to investing R750 million on three sites in the KZN midlands.

Amdec Property Development, the owner of some of South Africa’s premier properties, including Melrose Arch in Johannesburg, will develop 458 units on a 40-ha site in Hilton within 12 months at a cost of R400 million.

Regional director Magnus McDowall told The Witness that Amdec is upbeat about the medium- to long-term prospects of the midlands residential property market, with higher demand in the aftermath of Pietermaritzburg becoming KZN’S capital.

“We expect to achieve steady sales, but not at the [high] levels of the past. We must recognise that the last few years have not been the norm. We’re used to operating in a more conservative environment.”

The Hilton estate will comprise sectional title apartments, townhouses and free-standing homes.

“We would like to show our intent by commencing with civil work and infrastructure, boundary walls and the gatehouse soon.”

He said the idea is to offer a value-for-money lifestyle product in the “new urbanism” mould.

The second site covers 40 ha in Howick. McDowall said they have received town planning approval for 350 units, adding that this project is still in its infancy.

The final site is located near the first site in Hilton, and also covers about 40 ha.

He noted that this is Amdec’s first venture in KZN.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.