With the installation of services now under way at the Sibaya precinct, the time frame for the development at the new Signature Sibaya estate is on track.
Services are due to commence on schedule in the new year at this residential development next to Umdloti on the KwaZulu-Natal North Coast. The heightened levels of activity and hype surrounding this much anticipated node have resulted in over 85 percent sell-out, at a time when the property market as a whole has been far from buoyant.
A new, wide, landscaped boulevard with direct access to Signature Sibaya is in the process of being built off the existing traffic circle on the M4 into the Sibaya development, which will eventually link up with the M27 to the north. Construction vehicles are on-site daily, as demand continues to grow.
"Most of the plots at Signature were sold before the official launch, with vacant sites selling from R4.2 million to R10.5m", says Carol Reynolds, Pam Golding Properties area manager for Durban Coastal.
"The new owners are expected to invest a further R10m to R20m in building their luxury dream homes."
She says the north Durban coastline from Durban North to uMhlanga, Sibaya and Ballito, is one of the most sought after residential nodes in Work is under way at new Sibaya precinct on KZN North Coast KwaZulu-Natal.
"With the recent release of parcels of land in the eagerly anticipated Sibaya precinct, the area is buzzing with local and international investors seeking a piece of this acclaimed pie.
"The desirability of the area and the general trend towards secure living have made estates in this coastal node even more attractive. Developers have sought to meet this demand by offering a variety of security estates to cater for a range of budgets."
Signature Sibaya consists of 45 sea-facing stands, ranging in size from 1 000mē to 2 000mē. Two of the key drivers of Signature are the fact that it is pet friendly, and residents will have direct access to the beach along wooden walkways.
"The Sibaya Coastal Precinct will be developed in seven phases starting with nodes one and five, nestled between the M4 and the coastline and offering residential, leisure and limited retail to support local residents. According to the official record of decision, the mix of development rights for these nodes comprises over 2 300 residential units and over 100 000mē of commercial space together with hotel and resort uses."
For details, call 031 561 5300 or email carol.reynoldsg pamgolding.co.za