Construction begins at Sibaya development
Signature occupies the most elite position in Sibaya, being at the forefront of the Sibaya precinct, with unobstructed sea views.
Construction vehicles are rumbling as the new landscaped boulevard with direct access to the exclusive Signature Sibaya estate is in the process of being built off the existing traffic circle on the M4 adjacent to Umdloti.
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.
The plots at Signature have pegged a new benchmark for pricing in the province, with vacant sites selling from R4.2 million to as much as R10.5 million according to Pam Golding Properties area manager for Durban Coastal, Carol Reynolds.
“It is becoming increasingly evident that the North Durban coastline spanning from Durban North, through to Umhlanga, Sibaya and Ballito, is one of the most highly sought-after residential nodes in KwaZulu-Natal, and our Pam Golding Properties research team has cited this sector of the KZN property market as one of the fastest growing areas in the country,” said Reynolds.
She said new owners are expected to invest a further R10 million to R20 million in building their luxury dream homes.
Signature occupies the most elite position in Sibaya, being at the forefront of the Sibaya precinct, with unobstructed sea views.
It comprises 45 sea-facing stands within a very upmarket enclave. The stands range in size from 1000 to 2000sqm with a floor area ratio of 50 percent, enabling homes to be of substantial proportion.
Two of the key drivers of Signature are the fact that it is pet-friendly, and residents will enjoy direct access to the beach via wooden walkways.
The 1000 hectare Sibaya precinct bordered by the Ohlanga River in the South and the uMlodti River in the north, stretches from the N2 highway in the west to the coastline in the east.
The precinct will be developed in seven phases starting with nodes one and five, 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 nodes one and five comprises over 2 300 residential units and over 100 000sqm of commercial space together with hotel/resort uses.
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