Saturday, April 4 saw hundreds of interested buyers flooding into Durban’s ICC building to secure an investment opportunity like no other.
With 340 properties amounting to a net worth of R1 billion sold in just one day, national sales records were shattered as The Pearls of Umhlanga sealed new streams of revenue for the area.
As prices range from R1.35 million to R7.8 million, The Pearls remain as exclusive as it is beautiful.
Owners and tenants of the apartments will have access to state of the art leisure facilities, a luxurious living space and ocean views.
A mixture of South African buyers and Dubai investors scooped up property on sales day, locating The Pearls at the centre of Umhlanga’s goal to be South Africa’s new world-class city.
“With the first four phases (Pearl Reef, Pearl Tides, Pearl Breeze and Pearl Dawn) of the development 100% sold, The Pearls precinct has escalated in value by some 100% since its launch in 2004, making it an extremely attractive investment opportunity”, said CEO of DevMark Global, Piaras Moriarty.
Developments such as this continue to serve as a reminder of the incredible potential still lying somewhat dormant in this country
The Pearls will include a new mall hosting boutique clothing outlets, health and wellness facilities as well as fine restaurants to cater for the growing influx of tourists and residents and their increasing appetite for luxury.
With the project completion target date set for 2018, observing the area’s rate of growth in the leisure and tourism sector will certainly be exciting for residents between Durban and Ballito as Umhlanga; the mother of The Pearls continues to shine.
Photo by Grant Pitcher
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