Property

Issue No. 51 - February/March 2010

Cityview stuns ‘off the plan’

‘Off the plan’ apartment sales are surging in SA, according to developer Hamra Group, which late last year sold 40% of its Cityview Apartments project at a promotional function. At the Northgate-based project at Lightsview, 20 months away from completion, prices range from $335,000 to $575,000 for the largest penthouse. Two of the three penthouses sold on launch night with selling agent Brock Urban Projects. Since the launch night a further 30% of apartments have been sold taking the total sales figure to 70%. “It has been some time since we have seen sales of apartments ‘off the plan’ being so successful and Cityview at Lightsview is a prime example of that,” Brock Urban principal, Michael Brock says.

Hamra Group MD Sam Hamra says the sale proves the need for upmarket apartment living on the outskirts of the city. The Hamra Group recently gained approval to develop the $12 million Cityview apartment tower, the first of its type at Lightsview. “It is a state-of-the-...

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