R350m Menlyn apartment hotel development to open June
From Creamer Media in Johannesburg, this is the Real Economy Report.
Sashnee Moodley:
After an uncertain start, the Regency – a new upmarket apartment hotel development, situated in Menlyn Pretoria – has entered its final stage of construction. Paige Muller tells us more.
Paige Muller:
The Menlyn node of Pretoria has seen substantial developmental and economic growth within recent years. This growth accompanied with the scenic beauty of the area, presented an opportunity for development firm Key Spirit Development. Key Spirit Development CEO Rodney Wolmer tells Engineering news why he chose to peruse a luxury hotel apartment development in the bustling area.
Key Spirit Development CEO Rodney Wolmer:
Paige Muller:
The development looks to cater to upper-class businessmen and promises a low maintenance lifestyle. However, despite the developments potential, construction and marketing of the development got off to a slower start than initially expected.
Key Spirit Development CEO Rodney Wolmer:
Paige Muller:
Now that the initial difficulties have been overcome, the 350 million rand development that will consist of 220 fully furnished ‘lock-up-and-go’ style suits, has entered its final peak construction stage and is now on track for a June first début.
Key Spirit Development CEO Rodney Wolmer:
Paige Muller:
The Regency Hotel Group MD Siyanda Dlamini shared that although the development is not yet finalised, it has already sold 85% of its permanent apartments and is enthused to host its first overnight guests when it opens its doors on the first of June.
The Regency Hotel Group MD Siyanda Dlamini:
Sashnee Moodley:
That’s Creamer Media’s Real Economy Report. Join us again next week for more news and insight into South Africa’s real economy.
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