Property developer Balwin, which focuses on large sectional-title residential estates in high-growth, high-density metropolitan nodes in South Africa’s major cities, has launched its first new development – Malakite – in Greenstone, on the East Rand, since its listing on the JSE in October last year.

The new development is situated close to the main arterial routes in Greenstone, and forms part of the company’s property portfolio, which spans over 70 residential estates since the company was established in 1996.

Balwin has developed 71 estates in Johannesburg’s north, south and east nodes, as well as in the Western Cape and Pretoria, forming a total of 13 502 individual homes being sold to date.

The company’s typical estate offering consists of between 500 and 1 000 sectional-title residential units.

“Malakite is one of several new developments in our secured pipeline that we are steadily rolling out over the next eight years,” says Balwin CEO Stephen Brookes, adding that the company’s experience, continuous design innovation and business model enable it to deliver on the promises it made when it listed on the JSE.

He says Balwin benefits from economies of scale, in-house management and construction, which subsequently enables the company to deliver a “superior product at an attractive price, on time and within budget”.

The R226-million Malakite development spans 32 320 m2 and comprises 290 sectional-title residential units. It is due to be completed in June 2017.

Each apartment block will consist of three levels, offering investors a choice of five layout types in one-, two- or three-bedroom options, ranging from 46.8 m2 to 113.7 m2. The estate will have 24/7 security, a clubhouse with a swimming pool and access to fibre-optic networks (currently being laid out), as well as prepaid gas and electricity smart meters. Ecofriendly appliances, such as a fridge, a washing machine, a tumble dryer and a dishwasher are also provided in each apartment.

Balwin states that the units are competitively priced and representative of the company’s quality offering, with prices starting at R799 900 for a one-bedroom unit, R1 349 900 for a two-bedroom unit and R1 499 900 for a three-bedroom unit.

In line with the company’s phased build-to-sell business model, the estate will be developed over six phases according to demand.

Brookes says the model mitigates risks within the business. “All our developments are carefully matched against presales, providing us with an exceptional cash-generating ability and scalability, protecting the business from macro-economic impacts to some extent,” says Brookes, adding that Balwin is assessing the economic situation, which will guide the roll-out of its rental portfolio from 2017.