Oceans Umhlanga artist impression
EDISON PROPERTY GROUP Page 19 area’ s dollar millionaires. It’ s an accumulation of all our years of experience in the property development game, within the residential, retail, commercial and casino environments.”
The development will cost R 3.8 billion to develop and is expected to open its doors in 2018. Edison Property Group foresees approximately 100 000 new homes being built in the vicinity over the next three years, and Oceans Umhlanga will be perfectly positioned to service the area.
“ The idea for this type of mixed-use development came from our market research, which revealed that residential developments linked to a hotel or mall were having great success overseas.”
Having weighed their options for potential candidates, EPG finally selected Radisson as the hotel operator for the prestigious Oceans Umhlanga development.
“ Radisson has the biggest footprint of any hotel group in Africa. A large proportion of seasonal visitors to uMhlanga come from the continent, where the Radisson brand is recognised and highly regarded.”
Of the retail target market at Oceans Umhlanga, Vivian says,“ Our experience is that the wealthy demographic aren’ t looking for massive malls with every possible offering. Instead they want smaller, lavish spaces where they can shop for the top international brands.
“ When we approached these luxury brands to offer retail space in our mall, many told us they had been actively looking to move into Durban, but hadn’ t found a mall exclusive enough − until Oceans Umhlanga, of course.”
Reddy enthusiastically adds:“ Amongst the most defining attributes of our Oceans project is its quintessential location. uMhlanga is arguably the Beverly Hills of South Africa, certainly of KwaZulu- Natal. Many flattering descriptions define it – playground of the rich and famous; the most expensive real estate in the province; KwaZulu-Natal’ s Paradise Lost; the ultimate holiday destination precinct, peppered with pristine beaches and bathed by sunshine almost all the year around. The much-admired uMhlanga precinct is the perfect backdrop to the province’ s greatest mixed-use development of Oceans”. It is perhaps this synergy between the‘ paradise’ location and the opulence of the Oceans development that has contributed to over 90 % of the apartment units already being sold. The Radisson Blu Hotel is almost the perfect complementing leisure partner- comprising 209 rooms, 40 long-term mixed-use developments