Destiny Africa property offered on tender
A recent advertisement by the Michael James Organisation drew my attention. It related to the 422 hectare George property development, formerly known as Destiny Africa, owned by a company in liquidation. This property is now for sale by tender. The initial plans as of 2009 may well require some changes. A quick calculation using residential land values and construction rates indicates a potential valuation of R16bn, possibly higher. George’s total municipal valuation of property amounts to R36bn at present, placing the size of this future development in perspective.