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Leading Western Cape-based developer Rabie Property Group is launching three new retirement villages in Cape Town within the next eight months, and is planning a to roll out a national footprint of villages in the next five to 10 years.
The villages, which will all be based on the life right model, are to be launched under a new brand – Oasis Life.
Rabie CEO Leon Cohen says that, with people living longer and the current shortage of options for people as they get older, he believes there is huge potential in this market for superior products that offer a really great lifestyle for residents.
‘The first three villages in Cape Town, which will be developed at a cost of around R2.5 billion, are just the start. We are also exploring opportunities in other major centres and plan to roll these out in the not-too-distant future.’
The launch of Oasis Life follows the successful sell-out of Rabie’s Oasis Luxury Retirement Resort in Century City, where all 376 sectional title apartments were sold out six months ahead of the sixth and final high-rise apartment block being completed.
Cohen says that Rabie, which has a proud 40-year track record of delivery and has been responsible for many of the country’s landmark developments including Century City, West Lake, Royal Ascot, Burgundy Estate, and Clara Anna Fontein, has successfully delivered tens of thousands of homes and hundreds of thousands of square metres of commercial space offering investors peace of mind knowing that they are in safe hands.
‘Our focus has always been on delivering more than just bricks and mortar; it has been on developing large-scale estates and well-integrated mixed-use developments designed to enhance the quality of life of those who live, work and play there,’ he adds.
The first three Oasis Life villages will all form part of the group’s existing mixed-use developments, namely Clara Anna Fontein in Durbanville, Burgundy Estate, and Century City – all of which will offer village residents extensive additional facilities right on their doorstep.
Oasis Life Clara Anna Fontein will comprise a total of 125 homes and an exclusive clubhouse consisting of a dining room, coffee bar, lounge, activities room, a meeting room and library, as well as primary healthcare facilities staffed by a registered nurse.
Phase One of the development, which is now being launched, will comprise 56 one-, two- and three-bedroom homes, all with their own exclusive-use gardens.
Unlike most other retirement developments where communal facilities are only provided towards the end of the development, the retirement clubhouse component of Oasis Life villages will be built as part of Phase One. Oasis Life Clara Anna Fontein, which will comprise a total of 125 homes, forms part of the prestigious Clara Anna Fontein Estate. This means that life right residents will also have access to the spectacular Clara Anna Fontein Lifestyle Centre with its dining room and coffee bar, lounges, meeting rooms, a restored 18th-century Manor House, a fully equipped gym, two tennis courts, a squash court and a solarheated 25m swimming pool.
Homes will vary in size between 101 and 273 square metres, including garages and undercover patios, with prices ranging from R2.3 million to R5.5 million. Construction is expected to start by the end of the year, or early next year, with the ™rst handovers scheduled to take place during early 2020.
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Why life rights?
Cohen says they had investigated different financial models and believe that life right, which provides the purchaser with the legal right to live in a home for as long as they and their nominated partner/spouse are alive, offers buyers the greatest benefits and financial flexibility.
‘One of the biggest pros for purchasers is that most of the day-to-day worries and hassles, such as maintenance and insurance, will be handled by professional management teams,’ he explains.  Purchasers also have more certainty about levies, and won’t face the shock of a special levy at any time.”
‘Also,’ he emphasises, ‘the developer is in it for the long haul. By retaining ownership of all homes as well as the common property, it is in our interest to maintain the village and its facilities to a high standard. As such, the interests of residents and the developer are aligned.’
Cohen said the group has extensive hospitality experience, including owning and running top-notch hotels, and its specialised hospitality division would ensure the successful operation of all their retirement villages.
