The Pearls of Umhlanga: A gem of an investment
With so many compelling attractions, including an idyllic year-round climate, an abundance of lifestyle amenities and sound investment propositions, it is not surprising that the coastal town of Umhlanga draws a significant amount of residential property buyers and investors from areas outside of KwaZulu-Natal. A case in point is the highly acclaimed fifth and final phase of The Pearls of Umhlanga, Pearl Sky, in which a large number of buyers are from outside of KZN, including a fair number from the international market. Based on its beautiful location, unique design and excellent facilities it is no wonder that The Pearls is widely considered a blue-chip investment opportunity.
Sudhir Pragjee, Director of The Pearls of Umhlanga Development, confirms, “The reputation of The Pearls is such that buyers clearly understand the value of investing in one of the country’s most successful developments. Not only can it provide an income if rented out when not in use, it can be used as a primary residence after retirement, or it can be sold and the capital growth enjoyed or reinvested. Additionally, one of the key selling points is that it offers direct beachfront access”.
He confirms, “The first four phases (Pearl Reef, Pearl Tides, Pearl Breeze and Pearl Dawn) of the development are 100% sold, and The Pearls precinct as a whole has escalated in value by some 100% since its launch in 2004. Pearl Sky, which is already 90% sold, will undoubtedly enjoy the same success”.
Earlier this month the developers of The Pearls announced that, due to market demands, they would be releasing new opportunities within Pearl Sky – including 18 sea-facing studio apartments from the 26th floor upwards.
“The studio apartments at Pearl Sky have been in very high demand from the speculative market, therefore to satisfy our buyers from out of town and further afield we had to create new opportunities,” says Pragjee.
The construction of Pearl Sky is on schedule with the shopping centre component set to open in November this year, and the delivery of apartments to buyers will take place from August 2017.
“An exceptional development in one of the most-sought after locations in the country – The Pearls and Umhlanga will certainly continue to attract national and international investors,” ends Pragjee.