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Dear Friends & Colleagues,

In this day and age of modern technology, we have taken a decision to convert Devmag into a quarterly electronic newsletter. We are confident that we will be able to reach significantly more readers in this manner.

During the first quarter of this year, the property market in South Africa in general under performed - predominantly due to the financial position of the average consumer and the lack of funding from the major banks. The oversupply of development stock is still prevalent and needs to be significantly reduced, before some form of normality will return to the residential market. What has fascinated me over many years is the buying frenzy during boom periods, when selling prices are being maximised; and the significant fall-off during recessionary times. I guess it is the 'herd mentality' of us human beings that causes this phenomenon. From a purely business perspective it makes more sense to buy when the market is down and prices have reduced. There are excellent investment opportunities in commercial and residential properties in the current market.

The Devmark Property Group has followed a very conservative strategy and has always been aware of the short cycles in the property industry in South Africa. In assessing the market over the last 22 years, it appears that these property cycles last approximately 4 years. This has been taken into consideration in our development and investment strategies. We took a decision in 2006 not to pursue any new residential developments, but to concentrate our entire focus in the residential market, on the development of retirement villages. This decision has certainly paid dividends. In following our own philosophy of buying and investing in property when the market is down, we are currently in the process of acquiring new commercial opportunities, as well as land for the development of retirement villages. The biggest project ever undertaken by the Devmark Property Group will be the R 3.5 billion Galleria retail, commercial and residential precinct to be developed in Tyger Valley. The rezoning application for the first phase of 135 000 sqm has been submitted to the City Council for approval. I have little doubt that this project will transform Tyger Valley into a world-class shopping, office, entertainment and residential destination. Our aim is to ultimately develop a total of 265,000 square meters for mixed use.

Regards,
S. H. EHLERS
Group Managing Director
 
 
 
   

A regal five story office block in historic Barrack Street, Cape Town, Harrington House has towered over the city for 80 years. Deeply rooted in local heritage, the refurbishment of both its interiors and exterior demanded sensitive and professional touch. The restoration was a bi-company effort, managed by Devmark Design Interiors and Renovations together with Devmark Construction.

Dejane Ehlers - Steyl of Devmark Design:
“We wanted the entire building to retain its industrial look and feel but with a modern twist, and we are very happy with the results. The building’s exterior was severely outdated with face brick and splashes of pink paint. Modern and bold colours of red, charcoal and mushroom have since transformed the outer surface. Inside, the lobbies have all been tiled in very large, high-gloss black and mushroom coloured tiles. Clever lighting in the hallways has helped to create a sense of space in an otherwise dark and restricting area. The lifts were renovated and floors were screeded to accommodate the heavy load of trolleys and deliveries, while bathrooms were kept simple with built in vanities and square on-top basins.”

The last floors were refurbished by February 2011 after 8 months of hard work. This prestigious address is quickly attracting interest from upmarket and fashionable tenants. Well done to all involved for “keeping Cape Town beautiful”.
 
 
 
   

Somerset West's Helderberg Manor Retirement Village offers retirees a secure, luxurious home and more. Our activity at Helderberg Manor has increased dramatically with a total of 13 houses and garden cottages now under construction.

On completion the development will boast a fully equipped gym and swimming pool; a library; a restaurant and coffee shop; medical facilities; assisted living units and naturally, beautiful mountain views. It is surrounded by the already established Heritage Park, making it highly secure. The rate of sale at Helderberg Manor has increased significantly over the last six months, with a record number of eight units being sold in the month of March. In light of the fact that Phase 1 is sold out and the last houses are now under construction, the decision was taken to complete the services for Phases 2, 2A and 3A. Construction of the first six garden cottages has begun and construction of the first houses in Phase 2 should commence soon.
 
 
 
 
   

Devmark Design Interiors and Renovations has a telling new addition to its title: “renovations”, with a newly re-designed website showcasing the company's versatility. The team, already well respected for their excellent work in interior design for Devmark and other clients, has added another string to their bow by providing a complementary and equally excellent service in renovations and refurbishment. Their most accomplished recent project included work on a Cape Town architectural icon: Harrington House (see above).

The new phase required a fresh start for the company, with the new corporate identity and website proudly launched earlier this year – see www.devmarkdesign.com for the creative results from Adlab Advertising. Dejane Ehlers – Steyl is Devmark Design's Director. The company specialises in golf estates, retirement villages, private homes, commercial and retail developments.

  
 
 
 

    Devmark Commercial is entering a very exciting phase, having concluded an agreement through which the Devmark Property Group has secured land in Eastern Cape for the development of a regional shopping centre. At this stage it is envisaged that this centre will be between 35,000 and 40,000 square meters in size. As the layout of the Galleria Shopping Centre at Tyger Valley is being finalised, interest from potential tenants approached by Devmark Commercial is increasing daily. Our original belief in this project is now progressively being vindicated. Negotiations with a national hotel group for the establishment of a four-star hotel at the Galleria are progressing, and a final agreement should be reached in the future.  
 
 

© 2011 Devmark Properties - Newsletter by Adlab Advertising - 0861 ADLAB (23522)