Renico Construction Newsletter- March 2024

Now that the President has officially announced that we will be heading for the polls to cast our votes on 29 May 2024, South Africans finally have their date with destiny; just a little more than thirty years after the historic democratic elections were held in the country for the first time. It is now more important than ever for each registered voter to make their vote count as this will determine who will have the arduous task of 'running' the country for the next five years. Unfortunately, good leadership is a scarce commodity, not only in South Africa but globally.

Consumers will again feel the pain of another large hike in the fuel price this month, mainly brought on by higher oil prices and a weakening Rand. This will have a knock-on effect on transport and food prices which in turn have an adverse effect on the inflation rate. With the Reserve Bank's Monetary Policy Committee meeting later this month, the inflation rate, and its current trajectory, will determine if there are any changes to be made in the current repo rate. While we're hoping for an interest rate reduction, this will only happen once the MPC is happy that the stubborn inflation is contained. Let us cross our fingers and hope for the best!

FEATURED RESIDENTIAL PROPERTIES

Construction to the first homes sold in the Riverspray Lifestyle Estate in Vanderbijlpark has commenced and preparations are already in place to have building plans approved for the second batch of homes. I am confident that the on-site building activity will further boost interest in this project and that we will have many homes under construction in the coming months.

We still require a further two sales at our Fernhill development in Bryanston to trigger the construction of the remaining twenty-seven homes. The show unit was recently furnished to assist prospective buyers with interior layouts and decorating ideas. With the constant strong turnout of visitors to the site during show days, I believe we are only a few weeks away from seeing the construction teams move onto site.

A further six families took occupation of their brand new Brendavere Estate homes this past Friday. This brings the number of homes still under construction down to ten, with seven of these earmarked for completion during April. We still have one last cluster home available in this development. The 242m² duplex home offers three bedrooms with three bathrooms, study nook, lounge and dining room, stunning kitchen, and delightful patio area with that all-important built-in braai. The garden offers enough space to add a sparkling pool and there is adequate parking for four vehicles. This all comes at a price of R 3,33m which still includes all bond and transfer fees. Contact Kent Gush Properties on 011-465-5362 for an exclusive tour.

Over 70% of the stands within our Elemente development next to the Potchefstroom Dam in the North-West Province have already been secured by clients, all eager to construct their own full title homes at this ideal location. Once all township services are installed and we receive final approval from local council, clients can commence with construction of their next dream home.

LAUNCHING SHORTLY

Although we already are on site with the construction of the first homes sold within the Riverspray Lifestyle Estate, we will regularly be launching further phases within the estate. Here clients have the option to pick a full title stand ranging from 150m² to 500m² on which to place one of the available house designs on offer. This is an amazing opportunity to secure a full title home within a security estate which is conveniently situated on a stunning section of the Vaal River. With all the amenities offered within Riverspray this might be the perfect place in Vanderbijlpark and its surrounding suburbs, to raise your family.