Africa Rising to roll out R1,6bn in developments

Private Property South Africa
Press

Africa Rising, a Durban-based independent property development company, purchased properties worth R300m from Tongaat Hulett Developments during 2015.

It plans to roll out over R1,6bn worth of developments in the Umhlanga Ridge area.

Africa Rising has purchased 12 pieces of land from Tongaat Hulett Developments. The properties, recently added to the company’s portfolio, include The Madison, The Marina, Park Avenue, Aria and Jefferson in the Umhlanga Town Centre and a commercial property at Sibaya.

Four of these are currently under development. The Madison is a mixed-use development that will cater to the medical sector benefitting from its strategic location opposite the Gateway Private Hospital. It comprises 97 apartments and 27 medical suites and is expected to be completed by August this year. It is already 90% sold.

Construction has started on Park Avenue, a joint venture which comprises upmarket apartments which are 85% sold.

Aria, providing retirement apartments, and Jefferson, providing student accommodation of 300 and 240 units respectively, will launch this year.

This article originally appeared in Neighbourhood, Sunday Times.

Looking to sell your home?
Advertise your property to millions of interested buyers by listing with Private Property now!
Find out more

Tagged In:

Developments Area Info

Share:

Found this content useful?

Get the best of Private Property's latest news and advice delivered straight to your inbox each week

Related Articles

KZN's Queensburgh market on the up
Malvern in Queensburgh has gone from strength to strength and has become a very popular and sought after suburb especially amongst young professionals.
Convenience and security drives property demand in Pretoria
Demand for precinct and lifestyle living is seeing an increase in the number of new commercial and residential property developments in select areas in the City of Tshwane in Gauteng.
Hazeldean offers full circle living
The R44 billion Hazeldean development, has mushroomed into the biggest mixed-used development in Pretoria East.
Up and coming developments in Atlantic Seaboard
Local property experts talk about the developments happening in the Atlantic Seaboard in 2017.