Insurance tycoon Douw Steyn recently launched the Steyn City which stands on 2000 acres of land. This lifestyle estate is located north of Fourways in Johannesburg and is the biggest real estate development in Gauteng after Waterfall City in Midrand.
Steyn City is six times the size of Sandton City, four times the size of Monaco, and almost three times that of New York’s Central Park. US $0.54bn has been spent on the first phase of this project with a total of US $ 4.14bn expected to be spent on the second phase of the same.
It will have a shopping mall, office space, a medical facility and 18-hole Nicklaus designed golf course not forgetting a school. The real estate development also has a 42km off road bike track, 15km pedestrial walkway, 100km jogging track, equestrian center, swimming pool and other facilities.
The first to be completed were the infrastructure such as sewerage, water, basic services and roads. Roads on the real estate development cost US $24.90m for expansion of arterial roads.
According to the CEO of Steyn City Properties Giuseppe Plumari, this project was a medium for the growth of Fourways node.
Plumari also noted that his firm is working with the Government of South Africa to extend the William Nicol road through N14 which is currently being developed.
The other road that will be worked on is the Cedar Road which will have two lanes on both sides from Steyn City Cedar Gatehouse to Fourways Life Hospital.