Growthpoint Properties : begins construction of the Kent residential apartments in KZN

MEDIA RELEASE FROM GROWTHPOINT PROPERTIES

12 August 2021

Growthpoint begins construction of the Kent residential apartments in KZN

Growthpoint Properties (JSE: GRT) has commenced the development of Kent, its first greenfield sectional title residential development in KwaZulu-Natal.

Adjacent to the landmark upmarket 37,000sqm La Lucia Mall, the R140m apartment project will create a vibrant mixed-use lifestyle with all the amenities that anyone could want - shopping, dining, a park, gym and more - within a short walking distance.

Growthpoint is known for the excellent quality of its investment-grade real estate developments, and the market response to Kent has surpassed expectations. It is already around 90% sold out, with only a handful of units still available.

Kobus Blom, Growthpoint's KwaZulu-Natal Regional Development Manager, says, "The response from buyers has been tremendous, which confirms that the Kent answers a genuine demand for modern, quality residential accommodation for young professionals in the area. We are confident it will enhance its surrounding neighbourhood and contribute to the great local lifestyle."

The Kent apartments are being built in a standalone ten-storey building alongside the mall. Construction is scheduled for completion in November 2022, and Kent will welcome its first residents in time for Christmas. Construction of the building's first three levels of the above-ground parking deck will be completed in early 2022. Then, the building will rise up with one floor being completed each month over seven months.

The user experience of each apartment is a carefully considered factor of the overall development.

One of the main drawcards of Kent is that 90% of its one- and two-bedroomed apartments have sea views. It offers secure parking, card access control, an entertainment area with a swimming pool, pet-friendlyground-floor apartments with dedicated gardens, and SMEG appliances. Furthermore, Kent will feature lobby cubicles where residents can collect their shopping from selected La Lucia Mall stores, managed by on-demand shopping service OneCart.

The beautiful public La Lucia Park is alongside Kent, complete with an equipped kids' playground, outdoor gym, and relaxing benches. Virgin Active La Lucia is also right next door, and The La Lucia Mall Tennis Club is adjacent to both the mall and the La Lucia Library.

As a leader in green building, Growthpoint adopts a green development ethos backed by the extensive expertise that it brings to all its projects. For Kent, this includes using low VOC paint coatings and cost-

effective energy-efficient light fittings. The building will also have a dedicated generator to power apartments in the case of load shedding.

Growthpoint and its contractors seek to create jobs and skills, with the construction of Kent deriving

approximately 500 job opportunities and will support 30 local SMME's. The development of Kent

prioritises contracting employment and services from the local community wherever possible.

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Growthpoint Properties Limited

Nadine Briers, Head, Marketing & Communication

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For more information, or to book an interview, please contact Mahlatse Bojanyane on 083 453 6668 or email [e-mail].