Balwin Properties, the largest developer of section title real estate in the country, has launched the mesmerising Munyaka, which is set to be a R10bn housing estate, containing more than 5 000 homes. This exciting project will be rolled out over the next five to eight years. Located in Waterfall City in Midrand; the centre of Gauteng, Munyaka which means crystal in Venda, is a new flagship asset for the JSE-listed group and is a vote of confidence in South Africa’s future.
The economy might be battling against an armada of problems such as electricity and water supply challenges, high unemployment levels and ageing infrastructure but, there are beacons of light like the Waterfall City node, which is an engine of success.
Munyaka is the brainchild of CEO Steve Brookes, Balwin’s founder and one of South African business’ biggest patriots. The development is enhanced by one of the largest human-made lagoons in the southern hemisphere at a size of about 30 000 m2, providing a beachside aesthetic for residents. It offers residents a Hollywood lifestyle with idyllic views and world-class facilities.
“The role that Waterfall City can play in South Africa and its people’s future cannot be understated. It is already playing an integral role in re-developing an important part of Gauteng. Waterfall City is the fastest growing city in the country, and this is why Balwin has invested in it for the long-term. We first launched The Polo Fields, a high-end development of which we are incredibly proud and are now taking the node to a new level, with Munyaka, a jewel in our crown,” says Brookes.
So far, Balwin has developed just short of 1 000 residential units at Munyaka, as well as a lifestyle centre. The centre includes gym facilities, on-site concierge, restaurants, meeting rooms, laundromats, a cinema, wellness spa and stunning swimming pool.
Munyaka also offers non-motorised water activities including canoeing and paddle boarding.
The breathtaking lagoon was developed by Chilean multinational, Crystal Lagoons. This is the second lagoon that has been built at a Balwin development, with the first located at The Blyde, an impressive estate in Pretoria East, as well as a top end living destination.
“Munyaka is more than a development, it’s a way of life. We have stunning four-storey walk-up apartments which are complemented by our beautiful lifestyle centre. We are also set to open a Radisson Red hotel which will only enhance this incredible development even further. I believe that Munyaka is something that everyone who works for or with Balwin can be proud of,” says Brookes.
A world class sporting facility, Little Hill Montessori pre-primary schools and a convenience retail centre, sized at approximately 20 000m2 will also be brought to Munyaka by Balwin.
All of the apartments in Munyaka will be fibre ready, feature a Scandinavian style kitchen, free eco-friendly appliances, a balcony or patio for outdoor entertaining plus pre-paid water and electricity meters.
Balwin worked with LYT Architecture on the project which enabled the group to challenge conventions.
LYT Architecture director Guy Steenekamp says his group and Balwin had been a dream team.
“The success of Munyaka is a testament to this philosophy, with a vast team of countless people from Waterfall City and Balwin, professional teams, contractors, sub-contractors, suppliers, and local authorities all contributing,” he said.
“As the architect, LYT is immensely proud to have played our role in this project and grateful for our long and successful association with Balwin. We congratulate them on Munyaka and the inspiring vision they are creating for the future,” he said.
Brookes believes that Munyaka will be seen as a feather in Balwin’s cap which will bring more confidence to shareholders in the listed group. As the development rolls out, more people will buy Balwin shares, boosting the company’s liquidity.
The bulk of the development will consist of Balwin’s Classic Collection of high-quality apartments comprising one-, two- and three-bedroom apartments starting from R 989 900 and ranging up to R3m.
The development also incorporates exceptional Signature collection lifestyle apartments. Munyaka is also proud to include a villa which is priced at R50m and, two penthouses, priced at R70m and R75m. No short-term letting is allowed to take place at Munyaka.
Balwin already has interested buyers for the villa and one of the penthouses, and is excited at how investors are showing interest in Munyaka’s variation of apartments.
“Munyaka is an address to envy. I am so proud of what my team has achieved here. This project will create some 4200 jobs and brought new infrastructure at a development coast of more than R100m, to a fast-growing node. Munyaka is a thrilling addition to Waterfall City. Soon a mix of families, professionals and other movers and shakers will move into Munyaka. Once the Gautrain is extended to Waterfall City, we will also attract more foreign buyers and international businesspeople who want to own units in the city. Waterfall City will claim its place as a centre of business and desirable living in South Africa,” says Brookes.
Balwin Properties’ story is entrenched in South Africa’s post-Apartheid rebirth. It is a corporate citizen, a South African citizen and a key player in the economy.
It all began in 1996, when Brookes purchased Balwin CC, having worked in construction and home renovations. The first land purchased was transformed into the premier development, Ivory Court and Brookes and his hard-working entrepreneurial teams never looked back. Balwin later listed on September 28 2015, and today is the largest developer of sectional title apartments in South Africa. It has completed 98 developments to date containing around 56 426 apartments.
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