11 October 2023. Westown, KwaZulu-Natal. JSE listed Balwin Properties (“Balwin” or “the Group”), a developer that cares about environmentally responsible building practices and the delivery of high-quality apartments to its valued clients, today announced that it has concluded agreements to develop Shongweni Park, a 1 260-apartment lifestyle estate at the iconic Westown development, close to Hillcrest in outer west Durban.
Steve Brookes, CEO of Balwin Properties commented:
“ We’re very excited with this unique opportunity to further increase our footprint in the province, where our lifestyle estates in Ballito Hills and Umhlanga have proven highly popular with home buyers.”
Shongweni Park will form part of Balwin’s Classic range of lifestyle estates and will comprise 20 phases to be built out over the next four years.
One-, two- and three-bedroom garden apartments will be on offer, with large appliances such as a fridge, gas stove, washing machine/dryer and dishwasher included in the sales price.
“All our apartments are IFC EDGE Advanced certified, with the benefits of this being passed on to our homeowners,” said Brookes.
“Because of these more sustainable building practices, homeowners save on utility bills and also qualify for a Balwin Green Bond with most of the major financial institutions. This additional discount on the normal interest rate homebuyers qualify for, can save them hundreds of thousands of rands over the bond term,” he explained.
In line with Balwin’s Classic range of apartments, Shongweni Park will offer a unique, 6-Star Greenstar rated lifestyle centre, with access to amenities such as a fully equipped Training Science Gym, children’s play area, swimming pool, running/walking tracks as well as a concierge included in the monthly levy.
In addition, residents will have the convenience of a spa, laundromat and restaurant as part of the lifestyle offering.
The name Shongweni means “column of smoke” in iTshongweni, named after the spray at the Ugede waterfall close to Hillcrest.
The development will form part of the greater Westown mixed-use development which comprises the development of a new town precinct including residential, retail, offices, a private hospital, school and green belt area.
Shongweni Park is set to break ground mid-2024. Prices on the various apartment offerings are expected to range from R899 900 to R2 099 900.
+27 (0) 11 450 2818
Steve Brookes – Chief Executive Officer
Articulate Capital Partners
+27 (0) 82 480 4541
NOTES TO EDITORS
BACKGROUND TO BALWIN PROPERTIES LIMITED
JSE-listed Balwin Properties is a specialist, niche, national large-scale, residential property developer focused on the turnkey development and sale of sectional-title apartments as well as surrounding infrastructure, in the mid to upper market segment. Estates typically consist of between 1 000 and 2 000 sectional title residential apartments and are located in high-density, high-growth nodes across key metropolitan areas in Johannesburg, Tshwane, the Western Cape, and KwaZulu-Natal.
Sustainable building is at the heart of the company’s development process. All Balwin’s apartments are built to IFC EDGE Advanced certification and the Lifestyle Centre’s are constructed to Six-Star Green rating and Net Zero Carbon Omission as certified by the Green Building Council of South Africa (GBCSA).
This commitment to environmentally sustainable building allows for significant savings for Balwin customers through reduced utility costs together with potential savings in their bonds through the Green Bonds offered by most of the major financial institutions.
The Group has a secure development pipeline of 45 411 apartments across 27 developments in key target nodes. This represents an approximate 15-year development horizon.
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