In 1997, Arun Property Development (Pty) Ltd purchased a 182 ha portion of land from the University of Stellenbosch, which became its first project. This project, which entailed the rezoning and subdivision of this land into several residential, business and institutional portions, is now the popular Sonstraal Heights in Durbanville.
This founding development was successfully realised despite interest rates of 24% pushing holding costs to unprecedented heights during 1998. Prudent and astute management ensured that Arun rose to this challenge, and laid the foundation for the robust resilience that characterises the Arun Group to this day.
Arun Holdings then broadened its development fields in Sonstraal Heights by first developing a sectional title complex, Bakersfield (2002) and then the standard setting group house development, Wedgewood in 2003.
Between 2000 and 2005, four buildings with a total gross lettable area of 5000m² were constructed. Boasting a negligible vacancy rate from inception, this development has proven to be a major success, and is a very sought after address amongst medical professionals.
With the purchase of an 180ha portion of De Grendel wine farm, 2004 proved to be Arun’s most successful year yet. This land is situated in the prestigious residential precinct of Plattekloof. This land was rezoned into a large commercial site, several general residential sites and more than 200 single residential plots. The latter has been labelled ‘the Clifton of the Northern Suburbs’ and has proven to be yet another product of superior quality.
Frugal management ensured that Arun weathered the storm of the property downturn of 2008 to 2011. Although a conservative strategy was followed, Arun nevertheless completed the last building at Arun Place development (adding a further 2400m² gross lettable area to the development) and made substantial investments into the popular Octoplace development in Stellenbosch and Avanti Towers office block in the Tyger Falls business district.
With the market returning, Arun commenced with servicing the last 82 plots at the final phase of Baronetcy Estate in 2012 and will launch an upmarket residential retirement village in Plattekloof in early 2015. Known as De Plattekloof, this development will consist of over 250 units, and will feature world class health care, catering, telecommunications and other amenities.