Malkerns
In 2015 SBC Limited (“SBC”) acquired Pine Acres (Pty) Limited (“Pine Acres”), a property development company with a 42 hectare piece of land in Malkerns, Eswatini. Pine Acres will develop this land into Malkerns Square, an iconic, environmentally responsible, and resource-efficient lifestyle property development, with c. 1,300 residential housing units, and a retail shopping centre of 6,000 to 8,000 sq.The shopping centre is to be developed in phases and the first phase will be around 3000 sqm. also the total value of the project is estimated to be between E1.2billion and E1.5billion. we will be looking to develop around 1,100 units
With the pending approval of sectional title legislation in Eswatini, Pine Acres will develop apartment blocks and its precinct through a staggered time frame over the next five years, whilst Select Eswatini will provide end-user finance. Following the results from Select’s key focus groups held in Eswatini in January 2017, construction on the pilot project of 54 apartments commenced in Q2 2018. This will provide Select with key learnings for the next phase of development. Select’s existing customers have expressed their desire to take up housing units in both the pilot and the development.
The Sectional Titles Act has since been signed into law and the regulation to support this legislation is being formulated. Pine Acres has developed 54 initial units which will be primarily for rental and then develop ownership units against expressed commitment.
Malkerns Square Questionnaire
Location
- Situated between Mbabane/Ezulwini and Matsapha/Manzini, which are the main urban centres.
- Conducive to “lifestyle living” between two major economic nodes, with great infrastructure access, transport and utilities.
- Property has beautiful topography in an affordable location.
Our vision for the Malkerns development is to:
- Develop a great quality, innovatively designed, and energy efficient precinct that will cater to a broad consumer base, from the low end to high end market;
- Construct a development we are proud of and that will have longevity, with attention to long term design and global trends, using the best architects, landscape designers, artists, builders professionals, and materials; and
- Focus on a great quality of life for the residents, with their health and enjoyment of the surrounding amenities and green spaces.
Unique features
- Swaziland’s first mixed use real estate development with a large residential housing village and retail shopping centre.
- First eco-estate seeking “Green Star” ratings in Eswatini.
- Modern and sophisticated architecture with advanced urban town planning and quality construction.
- Security and safety a key priority.
- Fibre installation availability in each home, providing internet access to a community that would not ordinarily have such access.
Environment and social
- Sustainable energy solutions including solar and battery charging stations in each parking bay.
- Environmentally sustainable water approach including recycling and efficiency.
- Caters to a wide ranging demographic and a focus on family, youth, retirement, with an emphasis on building a sustainable community
- Focus on great quality of life for its residents and visitors, including running and walking paths, villages’ paths, amphitheater, soccer field, tennis, basketball, volleyball, barbecue areas, specific village children’s parks, green community spaces.
Residential development
- Closed estate made up of 4 housing villages with mixed price ranges, managed by the Body Corporate for the Estate.
- 1,100 1-3 bedroom apartments priced between c.E650,000 and c.E1,400,000.
- 70 2-4 bedroom free standing “townhouses” priced between c. E 1.2 million – c. E 2.76 million.
- 12 “villa” stands with approved architectural plans to maintain look and feel of precinct priced between c. E 4,1 million – c. E 9.68 million.
Retail development
- Retail space of 6,000 – 8,000 sq. to be developed in a staggered approach, with opening of mall anticipated when we get to sufficient scale.
- Pick & Pay (supermarket chain store) secured as an anchor tenant, and current negotiation on securing a filling station and DIY and home improvement store.
- Public transport spot, thus bringing foot-fall to the development.
