Robin Hayes, Cape Business News Editor
Amid the general doom and gloom in the construction sector nationally, it is reassuring that some private developers are exploiting a niche in the market in the Western Cape.
What is even more encouraging for the local economy is that Belgian based construction group Squareturn has established itself in Stellenbosch, seeing potential in mainly high end residential developments, prompted by international investor interest in the region and the widely publicised ‘semigration’ phenomenon of businesses and families relocating to the Cape Town environs.
Squareturn is based in its own development – Devonbosch, in Stellenbosch, a mixed use residential, retail and commercial development on an 18 hectare site with 10 000m2 of new build being targeted annually over the next 5 – 10 years.
Its Batanica development in Constantia is soon to come on stream with landscaping already underway in this Metropolis designed boutique security estate comprising just five exclusive properties of which one has recently been completed.
“Well on the way to completion is an 18 unit apartment development in Blouberg of which only four units remain unsold” explained Squareturn’s Senior Project Manager, Andrew Hoeks.
“Piling for Azul Terraces began in January and steady progress by our appointed main contractor Grenco Projects instils confidence in achieving a completion date by December this year” he said.
“The development comprises 55m2 to 120m2 units in a five storey up market development with covered sub-basement parking and storage facilities. Of the four penthouse units, three have already been sold and the apartment’s elevated location and balconies provides owners with spectacular views across Table Bay, Robben Island and Table Mountain.”
The complex 330m3 ground floor slab was cast in early May and when the writer visited the site towards the end that month, preparations were just days away from the pouring of the 130m3 second floor slab.
“Up market finishes, engineered timber floors and external fireplaces are presented in each of the apartments and the electrical design accommodates AC units and battery inverter systems as add-ons, with the penthouse units being solar PV “ready” should buyers wish to have such functionality. Other amenities include an outside entertainment area with a swimming pool and braai facilities” he concluded.
The writer has noted other residential developments in the Blouberg and surrounding areas giving rise to some optimism that the dour effects of Covid, loadshedding and the country’s economic stagnation may, in this area at least, be a glimmer of better things to come.