(New Developments) The Umbogintwini Golf Course and the Umbogintwini Village, near Amanzimtoti, is set for transformation into an eventual R1,5 billion major retail, commercial and residential development following the sale of the 93 hectare estate by owners AECI to Johannesburg-based Keystone Investments for R60 million.

Described by Louis Peens, CEO developments division of Keystone Investments, as "probably the most choice development land in the country" the five-phase project to be known as Arbour Town will, when completed, consist of some 800 residential units, a retirement village, 90 000 square metres of retail space and 20 000 square metres of commercial space.

First phase involves the extensive refurbishment of the approximate 100 existing single dwelling homes that make up ‘Twini Village with its extensive green belt being sub-divided into a further approximate 180 stands for new home building that will closely follow the architecture of existing properties. Subject to the transfer date, Keystone intends to start work on the high security Arbour Village early in January with the initial commitment to a perimeter fence/wall. The price of refurbished units will range between R500 000 and R1 million with December 2005 set as the completion date.

The second phase of the project will be the construction of a 150-unit retirement village in the form of free-standing units surrounding the existing Twini Club, which is to be converted into a community/frail care centre for use by residents. Unit selling prices are expected to range between R450 000 and R550 000.

The Galleria, a 90 000 square metre single-level retail centre on the existing golf course and running parallel with the N2 makes up the third phase with a planned start date of January 2006 and completion date of October 2007. This will be a two-phase development with a 70 000 first phase commitment by Keystone. Peens says all major retailers, these include Pick’n Pay, Checkers and Woolworth, have recognised the need for a regional shopping centre and committed themselves to tenancy of the successful advance of the project.

A 20 000sm "value" centre incorporating specialised shopping forms the fourth phase while the final phase will focus on a 20 000sm commercial node and two six-storey, seaview apartment tower blocks.

The Galleria will have two access points, with the main entrance accessing the development from the south via the existing Moss Kolnik interchange straddling the N2 and the northern access from the existing Dickens Road off-ramp. A road linking Moss Kolnik in the south to an upgraded Oppenheimer Road in the north running through the development is incorporated in the third phase.

Peens says the sale of the property for development purposes was only made possible very recently following an AECI commissioned extensive report and recommendations on pollution control by the world-renowned chemical pollution experts ERM. Recommendations on pollution control, which essentially restricts chemical pollution to rings within the factory area, will be fully implemented within the next 12 months. Keystone Investments had been closely monitoring the progress and implementation of ERM’s recommendations and been in negotiations with AECI for some time. The company is now satisfied the area posed no pollution threats to residents.

Peens stresses heavy concentration on the retention of all trees in the village – these are in the process of being catalogued and individually numbered – and sensitivity toward existing tenants in the village including a first option to buy the refurbished homes.

Completion date of Arbour Town, which Peens likens to Cape Town’s Canal Walk, will depend on take up of the five phases, but the developer is optimistic the project will be completed by 2010.

Although Arbour Town is the largest of Keystone Investments, the company’s track record includes The Keywest Centre in Krugersdorp, Campus Square opposite RAU in Johannesburg; The Main Mall in Krugersdorp; a regional 28 000sm shopping centre in Kimberley, the recently completed The Promenade in Mitchell’s Plain and the almost completed Festival Mall in Kempton Park.