Winter out there, but warm in here

While winter settles in over the Drakensberg (and to a large extent, over the property industry as a whole), activity at Nondela Drakensberg Mountain Estate is going forwards unabated, thanks to uninterrupted cash flows and investor confidence in this market-leading project by the Moti family.

Abalengani Chairman Zunaid Moti says that banks are becoming increasingly tough on funding for golf and holiday estates. This is borne out by a number of golf estates folding or in financial trouble in the past month – estates that were dependent on sales volumes to keep construction on site going.



“Nondela, on the other hand, is funded by the Moti family and is only dependent on a small amount of bank gearing. We will continue to fund it, and not only complete it, but also extend it.”

Moti predicts that, the building of luxury estates will become increasingly difficult as building costs continue to escalate. “The Nondela development would cost us R300 million more to rebuild in two years’ time. Raw material prices are increasing, and the lack of skills and the remote area of the development in the mountains make costs ridiculous.”

Nondela's first four showhouses have been completed and furnished.

Fewer luxury estates like these likely to be built due to the current financing squeeze, and an expected 40% rise in construction costs over the next two years, demand is set to increase as the number of opportunities entering the market decreases.

All of which translates into a reassuring blanket for our investors against the current winter that property industry finds itself in.



The Nondela showhouses, framed by the backdrop of the snow-capped Drakensberg.

 

Progress not hampered by the cold

Beautiful sunny, albeit chilly, weather has helped our construction teams make the best of the last few months, resulting in rapid progress on site at Nondela.

The infrastructure on Phases 1A, 1B and 1C as well as Phase 5 has been completed, as well as all access roads, the reservoir, school and the first four show houses.

The Kopanong Dam is virtually finished, and inflow after the rainy season has been brisk. The dam will eventually cover a large part of the eastern section of the estate, and provide championship fly fishing in due course.

The valley floor, home of the Ernie Els golf course, is hardly recognisable as extensive and precise landscaping has transformed it into a fully-fledged course meandering through 6000 existing and transplanted paper bark trees.


The Kopanong dam is fast filling up.

Walking the raw course, which has been seeded and is awaiting summer rain to start greening over, one is immediately struck by the ingenuity of designers Els and Greg Letsche.

They have cunningly planned long and challenging shots around various trees and other natural obstacles. Indeed a course to stretch the serious golfer! At R120 million for the golf course alone, it’s a master piece.

The first nine holes will be completed by February 2009, and the second nine August 2009, including the complete grow-in. The course will be unique in that special topsoil has been imported to help ensure the growth of evergreen grasses. Having a year-round, spectacularly green course in the Berg is unusual.

Work on the infrastructure of Phases 2, 3 and 4 has also commenced, and stands at 22%. Completion is set for 11 December this year.

Meanwhile, the entrance facility is almost ready to take up duty welcoming visitors and residents. At 98% completion, the surrounding areas are being paved before the building can be commissioned. The entrance and gatehouse complex cost in excess of R75 million and comes with a helipad and all related extras.


Ernie Els tees off on the third hole on his first test round of the Nondela golf course, accomponied by project civil engineers.
 

On the cards for Nondela

This comes on top of a competitive fly fishing programme at the estate, devised by South African fly-fishing champion Mark Glen Yelland, and the announcement that plans for an airport at Nondela are now in final stages of council approval. The airport will augment a heliport to be built at the gate house facility.

A limited offer of 60 opportunities in an exclusive game park inside Nondela will soon come on the market.

Some stunning late-breaking Nondela announcements just in:

The game park will be erected towards the west side of the property, which is currently being fenced. A state of the art fibre-optic fence has been designed to protect and secure the environment, with 24 hour CCTV surveillance added

Special game fencing is being erected around the newly-acquired section of land adjacent to Nondela to contain the proposed Big Five in an ecofriendly environment.
Africa’s Big Five is also coming to Nondela, in an exclusive offering of only 60 opportunities at a new 3000 hectare game park that has just been added to the estate!

  

Contractor liquidation won’t halt progress

Building contractor ATG’s liquidation has not affected progress at Nondela. As the contractor responsible for building of the Abalengani show houses, it ran into financial difficulties before completing some of the homes on site.

Abalengani has since put out the completion of the homes to tender, and negotiations are already in progress to appoint a new contractor. This has delayed, but not otherwise affected progress on site.

The Nondela project status at a glance
Contract
Progress Status
Completion Date
Provincial Access Road
100%
Completed
Municiple Infrastructure Phase 1A,1B,1C & 5
100%
Completed
Bulk Services Kopanong Dam
97%
18 June 08
WWTW & WTW
72%
25 Sep 08
Reservoir
100%
Completed
Golf Course
47%
First nine Feb 09
Second nine Aug 09
(Including complete Grow-in)
Municipal Infrastructure Phases 2, 3 4
22%
11 Dec 08
4 Show Units
100%
Completed
Entrance Facility
98%
4 Jul 08
New School
100%
Completed
Abalengani Units
86%
1 Aug 08

 


Contact: 082 555 55 55 or 0860 666 33 52
www.nondela.com