Stephen Brookes, the entrepreneur behind sectional title developer Balwin Properties, said he and his backers had invested R100m to develop a lagoon, clubhouse and other amenities to complement Balwin's The Blyde in Riverwalk Estate development.
The Blyde estate contains 3,600 units. The total Riverwalk development has been planned to contain 6,960 units.
The lagoon was developed in conjunction with Crystal Lagoons, an international lagoon technology group.
Brookes said that the lagoon showcased Crystal Lagoons's unique technology, which was patented in 190 countries and "had revolutionised the global real estate market by bringing idyllic beach paradises to new locations, where swimming, kayaking, paddle boarding and sailing can be enjoyed".
Alastair Sinclair, regional director for Africa at Crystal Lagoons, said: "This lagoon is 1.5ha large, which is equivalent to just over two rugby fields.
"It becomes a key selling point for Balwin. We believe customers will be attracted by the only lagoon in Pretoria."
"We ... foresee this as the first of at least six lagoons in SA combined with the Balwin brand," he said.
Sinclair said Balwin developments appealed to couples investing in their first home, retired people looking for safe lock-up-and-go apartments and also young families and other investors who were attracted by the return on investment that the developments offered.
Source: Business Day
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