Real Estate Investor Magazine South Africa July 2016 | Page 12

“The goal of the Edison Property Group is to grow our asset base to R12b in 5 years. We are currently involved with R5b worth of projects” “Thinking out of the box has become a well-worn cliché. I do not just think out of the box – I dream, I experiment, I innovate, I fear no physical or perceived barriers. That is the vision that will continue to drive the Edison Corporation. Oceans Umhlanga Development On the 2nd of June, the Oceans Umhlanga development, a pioneering commercial development spearheaded by Vivian Reddy, launched the R700 million Radisson Blu Hotel. The developers behind the luxury Oceans uMhlanga smashed records recently as they notched up R1.55 billion in sales in a single day. 10 JULY 2016 SA Real Estate Investor The Oceans Umhlanga Development is a R3.8 billion state-of-the-art mixed-use development project in the affluent Umhlanga suburb, north of Durban. The development will include a luxury Shopping Mall, a 200 key Raddison Blu Hotel and upmarket Apartments and Penthouses, all within three minutes’ walk to the sea. The world class development attracted a record R1.55 billion worth of residential sales in 4 hours. The 36,000 Luxury shopping mall, will include some of the world’s leading western brands, among them: Burberry, Emporio Armani, Versace, Gucci, Zegna, Jimmy Choo, Ferragamo, Paul Smith, 7 for Mankind and Hugo, as well as other leading