JUST LAUNCHED: New boutique development with 50 apartments coming to Green Point, Cape Town🏗️ Development details: • Development name: TWELVEONB • Developer: Blok • Breaking ground: April 2027 • Completion date: April 2029 • Amenities: rooftop pool and pet-friendly • Location: 12 Braemer Road, Green Point, Cape Town Apartment Breakdown: • 29 Compact One-bedroom apartments • 1 Compact One-bedroom Garden apartment • 1 One-bedroom apartment • 13 Two-bedroom apartments • 1 Two-bedroom Garden apartment • 2 Two-bedroom Duplex apartments • 1 Three-bedroom Garden apartment • 2 Three-bedroom Duplex apartments This is Blok’s second Green Point development for 2026 and their 23rd development launch. They have sold over 1350 apartments over the past 12 years. According to Kinesis Property’s Atlantic Seaboard H1 2026 Market Report, Green Point recorded a 31% increase in achieved apartment prices per square metre in the first half of 2026, even as transaction volumes fell. These smaller, well-located developments are increasing in demand, especially when they are hotspots within a walkable network of smaller businesses and services spread throughout - cafés, grocery stores, gyms, restaurants, parks and other everyday conveniences. This development also qualifies for a tax incentive called Section 13sex. It's a South African tax incentive for investors who buy five or more new residential units to rent out. This lets them claim a portion of the purchase price as a deduction against taxable income over 20 years. Most buyers have never heard of it, so now you know - Ask Ash😅

Ever wondered about the real story behind this eyesore of an unfinished shopping centre development in Pretoria?🤔 THE FULL STORY BELOW: The Villa Retail Park (location: Corner of Delmas & De Villebois roads in Wingate Park, #Pretoria East) was a project produced by the failed Sharemax property syndication scheme. The mall was going to compete with Menlyn Park shopping centre and Sandton City, #Johannesburg. The original site had 78 houses on it. They were bought and demolished in order for this colossal shopping centre to be built. At the beginning, this development was valued at R2.9 billion. This centre was destined to be the ‘Jewel of Pretoria’ and was supposedly one of the biggest construction projects in #SouthAfrica during the time that it was being built. Today, the centre is not fully complete. Construction began January 2009 with completion due in August 2011. 75% of the centre was completed when construction stopped in 2010 due to the collapse of the Sharemax company. Thousands of individuals - majority being elderly pensioners - invested millions into the Sharemax scheme with nothing to show for it today. Overall, the court papers state that the mall owners were given close to R3 billion by an investment company in 2009 to build this mall. One year later, the funds were gone… Contractors remained on site to meet deadlines, yet there was no funding to pay them for work completed. GD Irons Construction invested R150 million into the construction of this development. They obtained a court order for the developers to pay R500 million in damages.  To be included in what would have been one of the largest upmarket shopping centres in South Africa: 🛍️ 90 000m2 retail space 🛍️ 16 000m2 office space  🛍️ 5000m2 lifestyle centre 🛍️ Over 300 retail tenants Overall, about 40 000 individuals invested over R5 billion into the Sharemax company. The company, which proudly promoted itself as the largest unlisted property investment company went under when it contravened banking laws and illegally collected deposits from investors.  The collapse destroyed the futures of the investors who walked away with nothing. One of the pensioner investors, Bohuslav Kautsky, aged 67, invested R770 000 into The Villa Retail Park and lost everything. He committed suicide in his car outside the Sharemax offices in Pretoria by shooting himself in the heart. There have been recent rumours of an investment company wanting to purchase the mall. What they want to do with it is unknown. The ghost mall currently stands empty and there is little hope that this centre will ever be completed.  What are your thoughts on this failed development and the Sharemax investor casualties that have paid the price?