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