SA billionaire Douw Steyn is pouring R5.5 billion into the expansion of the luxurious private estate Steyn City that will see the construction phase named The City Center adding luxury homes, a heliport for those who want to fly in style, and a man-made clear water beach lagoon that will blend the tranquility of nature surroundings with the excitement of the business and retail center.
Launched in 2015 in a 900-hectare estate between Fourways and Lanseria, Steyn City developers Douw Steyn and Giuseppe Plumari raised R6.5 billion which would be used to build the city’s modernist-inspired architecture and utilities, water and sewerage, as well as roads in the largest estate in South Africa.
An additional R5.5 billion has been raised for the construction of the next step – a fully pedestrianized city center surrounded by luxury flats, basement parking that can accommodate up to 2,000 vehicles, a clear water beach lagoon similar to “Pretoria Beach.”
Exciting Lifestyle Estate
This new development will be entirely self-contained, generating its own power and water supply from its water reservoir.
This world class smart city will have designs and facilities that are not seen in any estates that include a heliport, school, over 700 luxury apartments, 11 penthouses and is surely set to be a trendsetter not only in South Africa but also on the continent.
Each apartment comes with Blu-Line kitchens and high quality German-made Gaggenau appliances, Kohler fittings and sanitary ware.
The City Helipad is wide enough to allow for a variety of helicopters to launch and take off at the same time, while passengers can wait for their trip in a lovely waiting lounge with a TV area, coffee area and washroom facilities.
A Good Investment
According to Steyn City Sales Manager Lambert Bezuidenhout, the estate has seen a rise in the value of the property since its launch, with land appreciating by as much as 15-18 percent.
He added that a stand in the estate that was purchased at the launch date costing R2.85 million was recently sold for R3.9 million, which is a decent return on investment.
Already home to some 1,098 people since 2015, Steyn City has been very much in demand due to its unparalleled lifestyle and facilities, including 45 km of biking, walking or cycling for residents, protection, restaurants, shopping boutiques, hair salons, pharmacies, florists.
Ideal Location & Other Benefits
Located between Fourways and Lanseria, Sten City is close to Diepsloot for a strategic purpose – creating jobs for the deprived community in the area, with over 1,835 people already on the initiative.
In addition to having a positive impact to the Steyn City community, the R511 links areas such as Johannesburg, Midrand and Pretoria, which Steyn City Developers were the key contributors to the project.
There is a world class school for students from Grade 00 to Grade 12 with a program tailored for modern students.
Clear Water Lagoon
While residential lagoons are still relatively new in South Africa, they have been a very popular amenity for residential developments around the world that attracts people to residential estates.
The Steyn City lagoon provides impressive facilities such as swimming areas, a children’s water park, volleyball courts, change rooms and a refreshment kiosk.
The 300-metre-long lagoon is chemical-free and uses a clearwater purification process to create crystalline water.
Who is Douw Steyn?
Douw Steyn, where Steyn City derives its name, is a South African billionaire who made his fortune from insurance, beginning with Auto & General Insurance, which he began in 1985, and Budget Insurance.
Douw’s 3,000 square meter Pallazo Steyn in the center of Steyn City is one of the most luxurious mansions in South Africa, estimated at around R250 million.
He and his partner, Giuseppe Plumari, had a vision of creating a world-class city within a city and, through their Steyn City Estate, they are making that vision a reality.