Trailblazing Entrepreneur supreme, and now turned property mogul, Vivian Reddy, has scored another major first in property development by the release of a unique Investment opportunity in the much-vaunted Oceans Umhlanga development.
A defining component of development comprises the first ever entry in KwaZulu-Natal of the internationally-famous Radisson Hotel. The ingenious Reddy has devised a first-time ever model for the KZN community whereby every strata of the population will be afforded the potential to acquire a stake in the Hotel. Reddy remarked today “It will give me the greatest joy to see even an average earner point to this iconic internationally renowned Radisson Blu Hotel and proudly state – I am one of the Shareholders in this magnificent Hotel”.
After months of preparation and strategizing for this unique opportunity, the Oceans Hotel Prospectus, which permits the offer of shares to the public in the new Radisson Blu operated hotel, was approved by the CIPC on 10 November 2016. Although applications only open on 23 January 2017, public interest in the entire development, which boasts an impressive board of directors and comes off the back of record breaking apartment sales, is such that the launch has been brought forward to 30 November 2016 at the Coastlands Umhlanga Hotel in KZN.
The hotel development will be managed by an exclusive group of directors including: Vivian Reddy, Dr Anna Mokgokong (chairperson of several JSE listed companies and Executive Chairperson, Community Investment Holdings); Rob Alexander (Chairman, Ducatus Property Group); Judge Vuka Tshabalala (former Judge President, KZN); Prof Dilip Garach (CA and Chairman, Garach & Garach), Graham Wood (former MD, Tsogo Sun Hotels) and AV Mohomed (respected community and business leader and chief trustee, Jumma Musjid).
From 30 November to 22 December, interested investors and their financial advisers will be allowed to reserve a place in the investment queue by completing and submitting an ‘Expression of Interest’ form. This is important because applications for subscription will, from 23 January 2017, be allocated on a “first come, first served” basis, and reserving a place now could avoid disappointment. The form can be download from two Oceans Umhlanga websites, www.oceans-umhlanga.co.za and www.oceanhotelinvest.co.za
Oceans Umhlanga is double award winning R3.8bn mixed use project situated on a prime 110,000 bulk square meter, 7ha commercial site in Durban. It won the prestigious International Property Award in two categories, namely, Best Mixed-Use Architecture in Africa, which is a design award and Best Mixed-Use Development in Africa, which recognizes the brilliance of the functionality and integration of the entire Development. Furthermore, the project has been named among the most innovative, exceptional and ambitious projects of 2016 in Africa. The International Property Award for Africa now catapults the profile of this prestigious project and consequently places a premium on the price of both the residential apartment and the newly released 72 hotel residential apartments. This bears testimony to the record breaking 97% residential sales in just 6 months.
International hotel Radisson Blu Hotel which is part of the Carlson Rezidor Group with 1400 hotels in 115 countries and 76 in Africa alone, that has put its name behind the Oceans Hotel, is none other than the fourth-largest hotel group globally. “The Radisson Blu Oceans Umhlanga” will be a 206 key hotel consisting of 24 floors with 135 standard rooms, 54 family rooms, 16 suites and a presidential suite. The state-of-art conference center will accommodate 1200 delegates, with five-star breakaway rooms and boardrooms. In keeping with the world-class standard that is synonymous with “the brand Reddy” and the Radisson Blu, the hotel will host a glamourous and grand palatial ballroom with seating for 700 people. Naturally the hotel will also offer a fully equipped gym, a wellness centre, an array of restaurants and an artisanal coffee roaster, 3 minute walk to the beach, South Africa’s first snow park, entertainment terrace, luxurious spa, panoramic lifts, a direct link to the luxurious world class shopping mall indeed this unique investment opportunity brings with it a welcoming and discerning lifestyle.
While the entire development and concept is unquestionably glitzy and glamourous and oh-so-opulent, its social conscience is rooted in the reality of present-day South Africa. Oceans Umhlanga is designed to majestically command the Umhlanga skyline, with magnificent sea views that immeasurably enhance the aspect and long term value of the fascinating residences. The internationally branded Radisson Blu Hotel is aimed at attracting business/corporate travelers whilst ensuring that both local and international tourists are also catered for, the hotel also boasts sharia compliance. The architectural style is cutting-edge contemporary, with the curvilinear lines of the building expressed in a combination of glass and distinctive materials. Balconies wrap themselves around the building, to create a dynamic set of exquisite sculptural forms.
“I have decided to act and address the criticism that business does not share its wealth. In effect I am giving away R2bn of our future wealth. To this end the 206 roomed Radisson Blu Hotel in Umhlanga Rocks will be offered at an affordable price whereby even a domestic worker will also be able to afford to buy the shares of R20 each.” – Vivian Reddy
At the launch Mr. Vivian Reddy presented both his domestic workers with share certificates of R10 000.00 each. The much vaunted Oceans development will not only reshape the landscape of one of the most sought after tourist destinations in Africa. It will offer a massive boost to the regional economy and the national fiscus. The Radisson Blu Hotel Durban Umhlanga, is part of the highly successful Oceans Umhlanga Mixed-Use development. The project will create 15 000 direct and indirect jobs during the construction, culminating in over 2 500 permanent jobs after completion.
Also speaking at the launch as guest of honour, His Majesty King Goodwill Zwelithini kaBhekuzulu praised the programme. “Often people look at massive projects and think that they will never be able to visit them, let alone own a share. But this scheme opens a whole new environment to them. They can now be part of ownership and while it may not be a big share, it will allow them to make a start. Many people just need a push to get them going and this may just the stimulus to further involvement in the property market,” he said.