SIMBITHI NEWSLETTER: ISSUE 6

Welcome to the 6th edition of the Simbithi newsletter.

Austin Byrne, project manager for Sabuti, summarizes as follows:

1. All issues in regard to the transfer of the land have been resolved and transfer should take place early in August.

2. Standard Bank Properties have granted full development finance for the project.

3. Barringer Investment Holdings (Pty) Limited, a joint venture between Ellerine Bros. (Pty) Limited and Marc Wainer, has taken a 50% interest in Lason Trading 12 (Pty) Limited, the developer of Sabuti.

This has given the project increased financial muscle as well as significant development skill and expertise.

4. The Design Review Committee of the Home Owner’s Association and Town Planning have approved the Site Development Plan.

Construction on site will recommence this week and the first blocks will be ready for handover in the spring of 2005.

WBHO, one of the most reputable construction companies in South Africa, have been appointed to undertake the entire construction and this will ensure that our purchasers get the best quality possible. They are currently tackling Phase 1 which comprises the 120 units in Blocks B, D, F, I and J. Three tower cranes are to be erected on site which will become home to a workforce in excess of 1,000 workers.

Bulk Earthworks and piling will now commence on Blocks B and F, Block D having already been completed and Block D will soon be coming out of the ground.

The Ilanga site boasts the highest point of the Simbithi Eco Estate and offers the architect a sense of drama- which is manifested in the design of 24 luxury apartments each with optimum orientation and unimpeded views... The drama is set to unfold and construction is due to begin in mid September. This will transform the beacon site into four blocks of luxury living, each with their own rim flow swimming pools. There has been an extraordinary demand for the apartments with the result that they are 80% sold out.

Emoyeni phase1 is sold out, with the developer now releasing Emoyeni phase2. The sectional title freestanding houses are affordably priced from R1.485m for a 191sqm 3bed house on an average of 700sqm of land. Construction of phase1 will commence as soon as transfer of the land is completed, estimated for August 2004. Completion of phase1 is expected to be mid 2005.

Designs of the various clubhouses, community centres, service area and gate houses are near completion, with the main entrance gate already under construction. Building should commence shortly with completion set for latest mid 2005. The construction of the dams in phase 1 is near completion with the recent rains having already filled up many of them!

The system to be implemented will not only match those implemented in established estates, such as Zimbali and Mount Edgecombe, but also, according to consultant Mark Adams, will be improved substantially due to lessons learnt from these estates. His reasons include:
• Designed by the people who will be responsible for making it work.
• Estate Manager & his team have years of experience: lessons learnt from other estates.
• 24 hour control center for panic, medical and home alarms.
• Perimeter detection system with rapid response capability.
• Emergency Notification system.
• Access control policy: Visitors require pre-notification of arrival.
• Activities of security staff monitored electronically.
• CCTV cameras at strategic points.
• Palisade fencing and electronic wiring.

The sales of phases 2 & 3 continue to surge forward. The campaign of reaching out into the market through national road shows has paid off for Simbithi Real Estate, with the market eagerly snapping up prime sites, once exposed to the estate through strong representation in shopping malls/golf clubs etc

The following is an article that appeared in the North Coast courier. No doubt the developer welcomes comment on all issues surrounding the estate and will go to any length required to answer any queries and concerns around issues ranging from waste management to environmental impact studies.

The 430ha Simbithi Eco-Estate in Ballito is the first of its kind in the area. Simbithi, previously under sugar cane, is now in the process of being transformed into its previous form, a natural coastal paradise with dense, indigenous riverside vegetation, lush valley wetlands, undulating hills and distant, breathtaking vistas. Simbithi will eventually comprise a total of approximately 1200 units in Phase 1 made up of single residential sites and clusters of villages linked by a network of internal roads.

Phase 2 consists of 178 freehold plots placed around a 9-hole Executive Golf Course which has been designed by renowned golf course designer, Peter Matkovich.

Phase 3 is an extension of the Eco-Estate which was launched as part of the first Phase of the Estate and consists of a further 116 freehold plots and two development sites. ...[more info]

In his speech at the official launch of Simbithi, Phase 1 last year, the KwaDukuza Mayor, Cllr SS Gumede said, “Through developments like Simbithi we can offer facilities for people to live in a safe and peaceful environment – the envy of many people all over the world. On behalf of the Municipality, I would like to congratulate the developers of Simbithi with the wonderful vision they had and the confidence they have in our area to undertake such a magnificent and unique development. I must also express the appreciation of my Council for the faith displayed in us through the development. Let us all see how beneficial development of this estate is and hope that other developments will follow in similar vein.”

The R2 billion Simbithi Development is backed by Imperial Bank. Brett Webb, Imperial Bank Limited’s Manager, Property Finance KZN, commented, “Imperial Bank Limited identified the Development as a viable project due to its ideal location and the high demand for property in the Ballito area which is evident from the record sales achieved to date.”

Marsha Haupt, Standard Bank of South Africa Limited Head, Business Acquisitions, Home Loans said: ‘We are proud to be associated with Simbithi due to the high calibre of the development. Our main focus is to facilitate the financing of the home loans, ensuring a smooth and hassle-free process. We value our relationship with Simbithi."

Barbara Shingler, Managing Agent of Simbithi Homeowners Association and ANC Councilor, Kwadukuza Municipality, comments, “To have such an upmarket estate, particularly, an eco-estate in Ballito can only be of benefit for the area and the many complexes bordering onto Simbithi. We look forward to welcoming the new owners and residents into Simbithi Eco-Estate.”