GOLFING legend Greg Norman and Australian-based lifestyle and golf community development company Medallist are to develop a R5bn "lifestyle community" in the south of Johannesburg.

The development called the Eye of Africa will include a Greg Norman-designed championship golf course, about 2000 residential units and a strong retail component.

Norman, who was in Johannesburg at the weekend to unveil details of Medallist’s first project in SA, said they would be "creating something unique".

"It is a magnificent piece of property. We are believers in the least-disturbance approach to the environment.

"We want to extract the best value for environment and golf course," he said.

Medallist is a joint venture between Norman’s Great White Shark Enterprises and Australian investment bank Macquarie Bank.

Medallist will work with South African partner Pixley World Investment on the residential development and golf course.

Norman said he loved SA because it was similar in looks to his native Australia and that he had a great deal of confidence in SA’s prospects.

The Eye of Africa is about 15 minutes from the Johannesburg central business district and will occupy 667ha.

Brad Tindale, vice-president of Medallist Developments, said 54% of the development, including the 105ha golf course, would be open space.

One unique feature of the development is the inclusion of a retail property component. Up until now developers in SA have tended to focus on residential units and golf courses.

Tindale said a retail centre, club house, speciality stores, restaurants, cafes and some convenience shopping would be developed in stages as demand required it. A longer--term plan — at least five years away — is to develop a major shopping centre and commercial precinct on the site. Tindale said Medallist also had permission to build a small hotel.

He said the development approach would be similar to that used in the Melrose Arch mixed-use complex.

There has been much criticism and concern about the proliferation of golf estates, particularly along the Garden Route and in Western Cape. Concerns from environmental groups have centred on the fact that SA is a water-poor country and that golf estates use a lot of it.

Medallist CEO Neil Gamble said they believed there were still opportunities for golf estates in greater Johannesburg and environs.

Gamble said the Eye of Africa would have water catchment and storage capacity. "We’ve done a water study. We’re creating landscaped ponds. These will form lakes, which will retain water. We will also have our own sewerage treatment plant and all effluent will be treated and reticulated back into the irrigation system," he said.

Borehole water would be available on the site.

Gamble said Norman would never allow his name to be used in a development which was not environmentally friendly.

Medallist said the Eye of Africa golf course would have a minimal effect on the natural environment.

Tindale said Medallist had five golf course and lifestyle developments in Australia and six in the US.

Gamble said Medallist had opened an office in Johannesburg and was investigating other sites for residential lifestyle developments across the country. The Eye of Africa is expected to be launched in March.