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PROPERTY: Sales at Palm Royale top R106m
Recent Western Cape Business News
Palm Royale, the third high rise block of apartments at the Oasis Luxury Retirement Resort at Century City, has seen a burst of activity in recent weeks with sales to date now topping R106m.
Setting new standards in high-end retirement living and ticking all the boxes for discerning buyers, Palm Royale is taking the market by storm with a further five deals totalling around R20m close to finalisation, says Owen Futeran, a director of the developers the Oasis Joint Venture, which includes the Rabie Property Group.
Being developed at a cost of R255m and rapidly rising out of the ground, the 58 sectional title apartments in Palm Royale are selling for between R2,45m and R8m. The two and three bedroom apartments range in size from around 110m2 to 237 m2, and vary from garden apartments to ”homes in the sky.” Many of the apartments boast balconies suitable for entertaining with mountain and sea views. All units will have basement parking bays while a number of store rooms are also available.
The Oasis Resort has garnered a number of international and local awards, including being named the top Retirement Development in South Africa by the prestigious international CNBC Property Awards Association in 2008 and receiving a merit award from SAPOA in the same year for innovative property development.
The first two phases of the development consisted of the Club House, a Care Centre offering state-of-the art health care facilities and services and the first two blocks of apartments – Palm Grove and Palm Springs – where all of the 174 apartments have already been sold.
The Oasis Club, which all residents automatically enjoy membership of, offers a wide range of indoor and outdoor social, health and sports facilities managed by skilled experts. These include a 25m indoor heated pool, where regular water aerobics classes are given by a qualified teacher, a massage room, sauna, steam room, fully equipped gym, a library, lounge areas, a restaurant, bar, bridge room and billiard room.
Palm Royale, construction of which will be completed in April 2014 by WBHO, will be linked undercover to the Oasis Club, the facilities of which are also to be extended in terms of the current construction contract to include a new multi-purpose recreational/entertainment venue with a patio looking out over ponds and beautiful landscaped gardens.
Also in the resort is the standalone Oasis Care Centre, which offers hotel-style assisted living apartments, frail care and a specialised Alzheimer’s/Dementia unit. It recently had its Sub-acute license upgraded to a Physical Rehabilitation discipline.
Futeran said that while most of their purchasers do not initially require the services of the Care Centre, it provided residents with peace of mind knowing these exceptional facilities were on hand should they need them.
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