International property developers, Da’Realty are currently undertaking three luxury developments in Cape Town’s prime location, totaling the value of R1.5 billion.
The 900m2 Aurum development consists of the redevelopment of the old Ambassador Hotel, located on the rocks in Victoria Road, Bantry Bay, along Cape Town’s exclusive Atlantic Seaboard.
The redevelopment will bring eight luxury “presidential penthouses” overlooking the ocean – one per floor.
Across the road 15 more apartments are being built, and are also part if the Aurum development.
Apartment prices range from R25m for mountain side apartments and up to R130m for sea facing apartments. The sizes of the properties range from 125m² to 800m².
The Aurum apartments are expected to be completed by winter 2018.
Da’Realty’s most recent purchase in Cape Town is the Adelphi Centre in Main Road, Sea Point. The company is redeveloping the property into a luxury shopping centre to be renamed Artem and it is valued at R200m. The chic, single-storey, shopping centre is expected to be completed by February 2018.
The property group are also developing luxury residential “hanging garden” villas in Clifton. The development, named ‘Azalea’ will be worth a total value of R400m. It is expected to be completed by the end of 2020, Azalea is not on the market yet and prices will be announced when it is launched.
Da’Realty’s strategy is to look for prime positioning, where “all elements of nature present themselves to be woven into the artistry of the building”. The company never plans to develop more than one building in the same suburb or area.
Lily Eskandari, Da’Realty’s chief operating officer in SA, explained that the company has a strong visible brand guideline, which brings the five elements of nature into every development.
“This combination of opulence and nature is what we call ‘lifestyle artistry’. It offers a rare level of beauty – not only in terms of the positioning of the building within the landscape, but in every fixture, finish and detail,” she explains.