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Rabie Property Developers have released the second and final phase of Park Place, a prestigious new residential development on the edge of the six-hectare Ratanga Park. This significant milestone follows the highly successful sales launch of Phase One in May, and highlights the ongoing investor appeal of residential property in Century City, Cape Town's 250-hectare New Urban estate.
Mariska Auret, newly appointed CEO of Rabie Property Developers, attributed the enthusiastic response from buyers to the “phenomenal lifestyle appeal” of the development, which fronts directly onto the six-hectare Ratanga Park.
“There is simply no other development in Cape Town that can offer a lifestyle comparable to the appeal of Park Place,” she commented. “Residents here will enjoy fantastic amenities within the development, such as a swimming pool, sun deck, clubhouse with pizza oven and braai area, and a boules court. Then there are the beautifully landscaped gardens with waterfront walkways, grassed lawns and scenic view points for bird-watching. And that’s just the tip of the iceberg!
“Within easy walking distance of Park Place is an unrivalled range of leisure, exercise, entertainment and shopping options. From kayaking along Century City’s 8,5 kilometres of canals, to playing padel at the new courts alongside the development, strolling the six-hectare Ratanga Park or joining our popular weekly Park Run, the healthy outdoor exercise options are amazing. Then add in the range of really great restaurants and coffee shops in the precinct, and shopping at Canal Walk, which is just 400 metres away, and you realise the walkability of this site is truly unmatched!” Auret added.
“And all of this is wrapped up in the effective, precinct-wide security measures that make Century City one of the safest suburbs in South Africa.”
The final phase of Park Place has already attracted substantial investor interest, with a notable percentage of buyers anticipating strong rental demand driven by the lifestyle appeal of the area. The demand for rental properties in close proximity to Ratanga Park has been described as “insatiable” by local letting agents, marked by strong demand at premium rentals. When it comes to capital growth, residential properties in Century City have demonstrated robust appreciation at 10% per annum, underlining the area's status as a highly sought-after residential node.
Designed to cater to a wide range of buyers, Park Place offers one-bedroom apartments starting at R2,3 million, two-bedroom apartments from R3,4 million, and three-bedroom penthouse apartments from R6,45 million. With enticing incentives such as no transfer duty and a manageable 10% deposit requirement to secure a unit, Park Place presents a compelling opportunity for investors and owner-occupiers alike. Construction is due to commence shortly, with occupation anticipated from late 2025.
Key features of Park Place include:
- a serene north-facing water's edge location
- a range of recreational amenities including a pool, sun deck, and play park
- a clubhouse with a pizza oven and braai areas for communal gatherings
- Pre-installed fibre with access to a high-speed network
- Full backup power – no more load-shedding
- 24-hour security with access control
- Perimeter fencing & monitored CCTV cameras
- Secure onsite parking plus garages & storage units for sale
“We are delighted with the unequivocal success Park Place has experienced to date,” commented Devon Usher, Managing Director of Property World, Rabie’s exclusive residential estate agency in Century City. “The launch event saw a 90% sell-out on the day! This equates to over 100 properties at a value of R260 million,” he added.
“This impressive uptake has pushed us to fast-track the release of phase 2, which brings with it one more building and one final opportunity to secure one of these fantastic investments. Demand for new Century City developments is constantly growing, while the supply is doing exactly the opposite – an inevitable predictor of a positive price trajectory.
“The chance to get in is now, with new developments still offering a selection of unit types, all with the added bonus of no transfer duty. Once this window of opportunity closes, it will be difficult, and much more costly, to get into this sought-after precinct – in particular, these state-of-the-art newer developments.”
With a focus on convenience and comfort, Park Place offers pre-installed fibre connectivity, ensuring access to a high-speed network, as well as full backup power to circumvent any inconvenience from load-shedding. Security is paramount at Park Place, which will include 24-hour manned security with access control, perimeter security measures, and monitored CCTV surveillance for residents' peace of mind. This is all in addition to the precinct-wide, high-tech security systems managed by the Century City Property Owners’ Association.
Embracing sustainability and efficiency, Park Place sets its sights on achieving an EDGE certification to secure lower interest rates for eco-conscious homeowners. This commitment to environmental responsibility aligns with the development's ethos of offering a holistic living experience that prioritizes both quality of life and long-term value.
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