Johannesburg - Pam Golding Properties has announced that it has entered into a partnership with Steyn City Properties to market residential properties within the vast Steyn City mixed-use development in the north of Johannesburg.
The first homes will go on sale in March 2015.
Steyn City is approximately six times the size of the Sandton city centre.
“Nothing quite like it has ever been attempted. The development is proving a considerable shot in the arm for the local neighbouring economy, employing more than 10 000 people to date and further increasing confidence in the area, which is now starting to boom,” said Dr Andrew Golding, chief executive of the Pam Golding Property group.
Once it is completed, the 2 000 acres of acquired land will house a total of 10 000 residential properties, including apartments, townhouses, cluster homes and freehold homes, some of which will be situated on properties as large as 4 000m².
Golding said a total of approximately R6bn will have been invested in the development by the time phase one of the development is completed.
Once completed, Steyn City will be a completely mixed-use lifestyle resort consisting of an office development, retail development, schools and crèches, hospital and healthcare facilities and a range of recreational facilities, as well as an 18-hole Nicklaus-design golf course.
Planning permission has been approved for residential units consisting of some 8 300 apartments and sectional title homes, 730 cluster homes, nearly 820 freehold homes and 120 retirement village units, but demand will dictate the final breakdown.
Pricing of the different homes being sold in the first phase of the marketing campaign will be announced when the development is launched in March 2015.
One of the ideas behind the mixed-use property development is that the homes will suit a variety of different needs, affordability and lifestyle requirements.