Andile Mnguni, a development executive for Tongaat Hulett Developments, says that the company set out to work with companies and people who shared its vision for creating value for all stakeholders in an all-inclusive approach to growth and development.
“They connected with our vision and have helped execute our plan for the area. All of the properties that they will develop will be complete and sold within the next five years,” he says. The success of Africa Rising is testament to the fact that sound investments made in conjunction with Tongaat Hulett Developments have provided a strong foundation for sustainable businesses.
Africa Rising has purchased a total of 12 pieces of land from Tongaat Hulett Developments. The properties added to the company’s portfolio this year include The Madison, The Marina, Park Avenue, Aria and Jefferson in the Umhlanga Town Centre and a commercial property at Sibaya.
Currently four of these are under development. The Madison is a mixed use development that will cater to the medical sector benefiting from its strategic location opposite the Gateway Hospital. It comprises 97 apartments and 27 medical suites and is expected to be complete by August 2016. It is already 90% sold.
Construction has started on Park Avenue and is expected to be complete in November 2016. Park Avenue comprises upmarket apartments which are well located close to the Umhlanga Ridge Town Centre. Aria, which will provide retirement apartments and Jefferson providing student accommodation of 300 and 240 units respectively, will launch this year.
“We buy into Tongaat Hulett Development’s vision and work in conjunction with them. We take into account their vision for a particular property and adjust our offering accordingly. We want to grow with them and offer a sustainable investment,” says Colin Kisten, chief executive of Africa Rising.
Construction of The Marina, which includes 69 apartments as well as a boutique hotel with 60 rooms, will begin early in 2016. Africa Rising is currently working on plans for the development of the Sibaya commercial site which is expected to begin in December this year.
