Property developers iProp and Sable Homes have teamed up for a residential development on 40ha overlooking Crown Mines golf course in the south of Johannesburg.

The launch of this multimillion-rand development represents an educated reading of the future of the southern Johannesburg market. Developers are showing interest in the southern areas of Johannesburg because of emerging upwardly mobile black professionals, who are boosting sales figures as they move out of the townships.The joint venture development, Lakewood, is expected to deliver up to 340 stands varying in size from 400m² to more than 1000m², with prices starting at R195000.

Sectional title developments are being considered, says Sable Homes marketing director Keith Nash. The development targets middle- and high-income earners. The developers say Lakewood will offer a 'green lifestyle' in secure surroundings 10 minutes away from the city.

The development is to be surrounded by a 2,4m wall and will have a guardhouse at the controlled-access entrance, as well as an intercom system connecting all homes to the control centre.

The first phase of the estate will be launched in the next few weeks.