PAL® Projects Prompt Interest in South African Investors01/15/2021
Unprecedented commercial success, accolades awarded by the real estate industry and praise from the President of the Republic, Cyril Ramaphosa, are just some of the achievements Crystal Lagoons® has accrued in South Africa. The Miami-based multinational is currently developing numerous crystalline lagoons in the country and already has 24 projects in different stages of development and negotiation.
As a consequence, the company is currently in advanced negotiations with investment funds and prominent real estate firms across the country to develop 20 Public Access Lagoons™ projects.
In South Africa, these developments also known as PAL™ projects, are expected to be developed in cities such as Polokwane, Mbombela, Pretoria, Johannesburg, Bloemfontein, Durban, East London, Port Elizabeth and Cape Town, among others, through a master agreement, an exclusive license agreement for a specific geographic area and a specific volume of projects.
“It is a new licensing model that has become a new long-term investment alternative, with perpetual income at rates of return never seen before, low investment and limited risk, since as projects are being built, they quickly generate profits and a financial pyramid occurs,” explains Crystal Lagoons Regional Director, Alastair Sinclair.
PAL projects are characterized by monumental crystalline lagoons surrounded by tropical beaches, which are accessed via ticketed-entry. There are models with more or less infrastructure and the most complete options include areas for trade shows, launches, food-halls, weddings, concerts on multiple stages overlooking beaches, terraces, domes, as well as gastronomy, retail, amphitheaters and shows.
Thanks to a new technology by Crystal Lagoons, bathing areas are kept at 28°C both at low cost and sustainably, ensuring optimal conditions throughout the year, similar to tropical seas, which allows them to be enjoyed for longer.
In the real estate industry, the success of these crystalline lagoon projects in South Africa has sparked the interest of many local developers seeking to partner with Crystal Lagoons.
An example of this is the most recent project by Crystal Lagoons in the country, Munyaka, one of the five residential developments anchored by a lagoon being developed in association with the real estate company Balwin Properties. The ultra-luxurious complex was praised by the President of the Republic, who celebrated its infrastructure and urban contribution.
Munyaka, near Johannesburg, not only conquered the country’s leader, but buyers. Its excellent results allowed Balwin Properties to increase its sales by 11% during the last fiscal year. In fact, in just four days, Munyaka sold 550 apartments, with a similar record to that recorded by The Blyde, another Balwin complex with Crystal Lagoons, located in Pretoria, recently awarded the 2019-2020 International Property Awards in three categories.
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