In 2015, Durban in Kwa-Zulu Natal was named as one of the 7 ‘Wonder Cities of the World’. According to the New7Wonders website, the latest campaign aims to find "cities that best represent the achievements and aspirations of our global urban civilisation".
What started out as a drawing of modern, towering apartment blocks in 2003 has become a reality, with The Pearls of Umhlanga forever changing the face and skyline of Umhlanga, as well as generating more than R3 billion - and counting - in sales.And nowhere is this ideal of urban “achievements and aspirations” better embodied than in the Pearls of Umhlanga - South Africa’s biggest private development to date, worth R3.3 billion.
What started out as a drawing of modern, towering apartment blocks in 2003 has become a reality, forever changing the face and skyline of Umhlanga, as well as generating billions of rands in sales.
However, the end is in sight, with the last phase of the development, Pearl Sky, having been launched in April 2015. So sought after is the luxury lifestyle offered by The Pearls of Umhlanga that apartment sales for Pearl Sky reached R1 billion on the first day of being released for sale.
Anant Singh, a director of the development, says The Pearls of Umhlanga embodies South African creativity, boldness and entrepreneurship.
Senzo Mchunu, the Premier of KwaZulu-Natal at the time of the launch, agrees, and says The Pearls has, and will continue to boost not only Umhlanga, but Durban and KwaZulu-Natal as a whole.
“Tourists love places of beauty, and The Pearls has achieved beauty of design in an already beautiful setting,” he says. “What more could you ask for when looking out over the Indian Ocean from the 32nd floor of Pearl Sky? There is nothing better.”
Enjoy sea views while taking a dip in the pool...The development has won numerous international design awards, cementing its status as an iconic landmark on the Umhlanga coastline.
The Pearls of Umhlanga offers residents the ultimate in seaside living, and with 90% of the Pearl Sky apartments already sold out, interested buyers need to act quickly to secure this exclusive lifestyle.
“So far, only seven apartments below the 25th floor are still available and only 44 above it,” says Greg Cryer, sales director of Pearl Sky. “Apartments from the fifth floor upwards boast unrestricted sea views - and the higher up you go, the higher the price tag.”
A mix of studio apartments and one, two and three bedroom units are available, with studio apartments selling from R3 million. Most apartments have balconies.
Wake up next to the ocean every morning...Cryer says studio apartments are particularly popular, with a floor initially planned to comprise two bedroom configurations being redesigned to offer more studio units to meet this demand. Only two penthouses were made available for sale, marketed at R58 million each, and both have already been sold.
The development offers residents access to a large communal swimming pool overlooking the ocean, as well as direct beach access.
The Pearl Walk, a retail segment, is also currently under construction and due for completion by December 2016. It will offer residents access to top-class shopping and dining.
When it comes to security, a biometric and card access system and 24-hour security guards keep residents safe, while all parking is basement parking.
Enjoy sky-high modern living to its fullest...While many buyers want to live the lifestyle offered by The Pearls, investors are also snatching up units. Cryer says this is not surprising, as The Pearls has so far shown excellent yields.
“About 10 years ago you would have paid R16 000 to R17 000 per square metre for units in the first phases. Today these units are selling for up to R45 000 per square metre - more than double the original price,” he says.
“When Pearl Sky was launched in 2015, prices started from R45 000 per square metre, today prices start from R50 000.”
And it’s not just value growth attracting property investors - Pearls units attract excellent rentals, says Cryer.
“During holiday seasons a unit here can easily be let out for R3 000 to R4 000 a day, while long-term rentals range up to R35 000 per month.”
He says this has led to the inception of various rental pools throughout the development.
Added to these benefits is the desirability of living in Umhlanga and Durban. In 2015, Durban was the highest-ranked South African city in the City with the best Quality of Life in Mercer’s 18th annual Quality of Living survey - beating both Johannesburg and Cape Town.
At The Pearls of Umhlanga you will have everything you need close at hand.“Umhlanga is the ‘Sandton by the sea’,” says Speaker Logie Naidoo
Mchunu says the Pearls adds to the “appeal of Umhlanga - and Durban - as a holiday mecca”.
“Durban is a ‘world city’, and with developments like The Pearls of Umhlanga, we are catching up to Cape Town when it comes to mid- to high-class designer accommodation,” he says.
“The Western Cape has grapes, Table Mountain and the Atlantic Ocean. We have sugar, the Drakensberg mountain range - where development is also taking place - the Indian Ocean, with our climate allowing year-round swimming, and the Big 5 in our northern regions. And now we have The Pearls of Umhlanga.”
For more information on the development, visit the website. - Ula van Zyl
