The Mirage set to become a reality as building work starts

Artist impression of the Mirage, a 17-storey mixed-use project in Cape Town.

The credit crunch of the past few years has put the brakes on many property developments in SA and around the world - but not on The Mirage, a 17-storey mixed-use project in Cape Town’s upmarket De Waterkant area, where the developers have just broken ground to begin construction

“Located in a prime position, this development will boast a three-storey boutique hotel as well as 54 luxury apartments over five floors, nine duplexes and a floor of penthouses, all with sweeping mountain, city and harbour views. And more than 40 units have already been sold for a total of R190m,” says Jason Rohde, CEO of marketing agency Lew Geffen Sotheby’s International Realty.

“There will also be two storeys of retail space for galleries, bookstores, cafés, gift shops and fashion outlets and two storeys of parking above ground as well as four and a half levels of basement parking, to complete a building of ultra-modern design that promises to become a Cape Town landmark.”

It is clear, he says, that despite the financial strictures of the past few years, there remains an appetite among wealthy property buyers worldwide for exceptional homes in sought-after locations – and that The Mirage has struck a chord among these high net worth individuals.

“The apartment buyers to date have included German, Dutch and Angolan nationals as well as South Africans, and as word spreads through the global Sotheby’s International Realty network, interest continues to grow. This will no doubt be further reinforced as work proceeds on the project, which is due to be completed in 18 months’ time.”

Rob Stefanutto, the agent marketing The Mirage, says the apartments still available for sale range in size from 50sqm to a sumptuous 280sqm, and in price from R1,7m to R10m.

“Features include floor-to-ceiling windows, entertainment terraces and superb finishes, and additional draw cards are the top-notch building security provisions as well as a rooftop sky-bar and restaurant for residents and their guests. Investors who intend living here themselves are also intrigued by the convenience of being able to live, work, play and park in a single highly desirable location.”