Estate Living Digital Publication Issue 6 June 2015 | Page 48

Wagaya

Residential Estate

ESTATES ABROAD

50

Mozambique is fast becoming
Africa’s premier winter getaway and
South Africa’s love affair with this
neighbouring beach destination shows
no signs of waning. The spectacular
2500km coastline plays host to silky
beaches of indescribable beauty and
is home to a number of magnificent
community living arrangements such
as Wagaya Residential Estate.
Situated on the beachfront of Barra
Beach, a 7km strip of pure white sand and
blue water, the Wagaya development
was launched in 2012 and was one of
the first residential estate complexes in
Mozambique.
The development company is owned
by two shareholders, both of whom
have extensive experience in property
development and one of whom is also
resident on the estate. Local law dictates
that, in order for a developer to become
certified under the Periodic Housing Law,
they must meet stringent due diligence
requirements that offers buyers a higher
level of security and peace of mind than
would necessarily be the case in South

Africa under sectional title laws. To
date, only some 30 developments in the
whole of Mozambique have achieved
certification, including the developers of
Wagaya.
Wagaya is a fully completed estate and
each home is air conditioned, furnished
to a high specification, including durable
rattan furniture, as well as being
equipped with state of the art Smeg
appliances, cutlery and linen, before
being released onto the market.
The development currently comprises
one double-storey unit, consisting of five
lavish bedrooms and four bathrooms,
which has been sold to a South African
investor for over R6 million. Those
wanting to experience a slice of this
fabulous country on a regular basis can
invest in a smaller beachfront condo,
which is available on a fractional share
basis and retails at R475, 000 per share
with use for four 10-day periods during
the year on a rotational basis.
Mozambique has one of fastest
growing economies on the continent,