JSE-listed Balwin Properties has launched its Munyaka lifestyle estate development in Waterfall City, Gauteng.

Munyaka, which means 'crystal' in Venda, has one of the largest man-made lagoons in the southern hemisphere at a size of about 30 000 m², providing a faux beachside aesthetic for residents.

“Munyaka is the crown jewel in our development portfolio. Notwithstanding the challenges we currently face as a country, I firmly believe in South Africa’s future and this R10-billion investment is a huge vote of confidence in our resilience as a nation.

“We have worked very closely with our architects to bring something exceptional to South African sectional title buyers and believe that it will not only set a new standard for lifestyle estate living in Waterfall, but indeed in the country,” Balwin CEO and founder Steve Brookes said.

He added that more than 4 200 job opportunities would be created across the lifespan of the development, which is expected to be completed in 2033.

In addition to the lagoon, Munyaka includes amenities such as gym facilities, an on-site concierge, restaurants, meeting rooms, a swimming pool, laundromats, a cinema, a wellness spa and water activities, such as paddle boarding and canoeing.

To ensure a community-based lifestyle and security, the group has implemented a strict no short-term letting policy at Munyaka.

The first phase, comprising more than 1 000 apartments, has already been completed and occupation taken.

Upon completion this year, the development will have 5 020 architecturally designed fibre-ready apartments, each with a Scandinavian-style kitchen, eco-friendly appliances, a balcony or patio for outdoor entertaining, plus prepaid water and electricity meters. 

“From conception, we worked closely with [architectural firm] LYT Architecture, and the scale of this project really allowed us to challenge conventions,” Brookes said.

The bulk of the apartments in the development that are not located around the lagoon will retail from R989 900 for a one-bedroom, one-bathroom apartment to about R2.37-million for a three-bedroom, two-bathroom garden apartment.

“No bond and transfer costs are payable and first-time homeowners and youth buyers qualify for a 10% incentive in terms of Balwin’s campaign to provide these stakeholders with an opportunity to get on to the property ladder,” Brookes said.

He said all the apartments had been developed in line with the International Finance Corporation’s green building certification system Excellence in Design for Greater Efficiencies (Edge) Advanced protocols, which means the apartments are zero-carbon ready.

“We achieved 40% or more on-site energy savings compared with conventional building methods. We leveraged this achievement with the major banks as part of our green bond offering, where qualifying homebuyers will get a further reduction in their mortgage rate as a result of our greening efforts.

“So far, we have secured 5 312 green bonds for clients, providing them with total savings of R389-million over the duration of the bond,” Brookes explained.

“Waterfall City . . . host[s] the largest clearwater lagoon in South Africa. It is a great addition to the variety of leisure amenities the city already offers its residents and visitors,” Waterfall Management Company CEO Willie Vos commented.

The development of Munyaka resulted in several infrastructure upgrades in the node, including the improvement of Mia road by Balwin at a cost of more than R100-million.

Additional infrastructure upgrades are planned for the longer term, including the establishment of a Gautrain station within walking distance from Munyaka, the extension of the K60 from Van Der Bijl avenue to Allandale road, as well as the establishment of a sporting facility and retail convenience centre of about 20 000 m².

Immediate complementary amenities that will be added to the development include a Radisson Red hotel and a Little Hill Montessori preprimary school.