Last month, Balwin Properties launched Mooikloof Mega City, a sectional title development that may be the largest in the world, with up to 50,000 apartments planned upon completion.
Situated east of Pretoria, the new development is supported by Government as a strategic integrated project, with R1,4bn earmarked to develop infrastructure such as water, sewerage, electricity and roads. It’s being constructed, project-managed and marketed by Balwin.
“We heeded the president’s call for inclusionary housing and are especially excited about what this development could mean for our country in the aftermath of Covid-19,” says Balwin founder and CEO Steve Brookes.
“Not only will it boost the economy but it will also create about 115,000 direct and indirect job opportunities. “Mooikloof Mega City has been designed specifically for the ‘gap’ housing market defined as housing opportunities for people earning a combined monthly income of between R3,501 and R18,000. These are the income earners who earn too much to get a free house from the government and earn too little to get a bank bond,” says Brookes.
“Accordingly, first-time homebuyers and qualifying individuals will have assistance through the Finance Linked Individual Subsidy Programme, or Flisp, which grants first-time buyers a subsidy of between R27,960 and R121,626 towards the purchase of a home.”
The initial 16,000 apartments will be built in phases over the next few years and are valued at about R9,6bn. Extended to 50,000 apartments, the total value will be about R44bn. Unit prices will range from R499,000 to R799,000.
Boogertman + Partners Architects, which has worked extensively with Balwin in the past, designed the development according to Balwin’s Green model, which includes the developer’s new Greenbarn Lifestyle Centre. In line with all Balwin’s Green developments, Mooikloof Mega City is Edge-certified by the Green Building Council South Africa.
Mooikloof Mega City is located off Garsfontein Drive, that will be extensively redeveloped, and is approximately 6km from the junction with De Villebois Mareuil Drive where Woodlands Boulevard Mall is located and 8km from Solomon Mahlangu Drive which gives access to the N4 and other main arterial routes.
Surrounding developments include Woodhill Golf Estate, Mooikloof Equestrian Estate, Mooikloof Heights, Mooikloof Ridge, The Hills Golf Estate, Grootfontein Country Estate and Mooikloof Glen.