Aether Living — Development Portfolio
The development portfolio across the four integrated smart precincts, the phasing and unit mix, the gross development value and the build-out programme.
Section 7 · Business Plan
Development Portfolio
The development portfolio across the four integrated smart precincts, the phasing and unit mix, the gross development value and the build-out programme.
7.1 Portfolio Overview
The Company’s initial development portfolio comprises three flagship
precincts located in South Africa’s three principal metropolitan growth
corridors, with a fourth precinct (Aether Reserve Pretoria) at
early-stage feasibility. The three flagship precincts are deliberately
diversified across geography, climate zones, product mix, and target
customer segments to optimise the platform’s risk-adjusted returns and
to demonstrate replicability of the integrated precinct model across
distinct urban contexts.
7.2 Aether Sky District — Johannesburg
Aether Sky District is the flagship and largest precinct in the
portfolio, located within Johannesburg’s northern growth corridor, with
strategic positioning relative to the Sandton CBD, the Waterfall
logistics node, and the Rea Vaya bus rapid transit network. The
220-hectare site features high-density mixed-use development integrated
with a signature crystal lagoon amenity, rooftop solar districts,
autonomous shuttle transport, a healthcare hub, an innovation campus,
premium retail boulevard, and AI-enabled security systems.
| Sky District Metric | Value |
|---|---|
| Total Apartments | 12,000 |
| Total Development Value | ZAR 16.0 billion |
| Land Area | 220 hectares |
| Solar PV Capacity | 48 MW |
| Battery Energy Storage | 75 MWh |
| Water Recycling Capacity | 12 ML / day |
| Retail / Commercial Space | 22,000 m² |
| Construction Period | Year 1 – Year 7 |
| First Unit Handover | Quarter 6 |
| Final Unit Handover | Quarter 26 |
| Target Customer Mix | 55% mid-market, 30% rental, 15% premium |
| ESG Certification | EDGE Advanced + 5-Star Green Star |
7.3 Aether Atlantic Quarter — Cape Town
Aether Atlantic Quarter is positioned within Cape Town’s southern
suburbs growth corridor, with proximity to the MyCiTi Phase 2A bus rapid
transit corridor extending from Khayelitsha to Claremont. The
165-hectare site is anchored by a climate-adaptive architectural concept
emphasising desalination-supported water backup, EV transport
infrastructure, integrated co-working campuses, wellness and sports
districts, and significantly higher allocation to the institutional
rental segment relative to other precincts.
| Atlantic Quarter Metric | Value |
|---|---|
| Total Apartments | 8,500 |
| Total Development Value | ZAR 11.4 billion |
| Land Area | 165 hectares |
| Solar PV Capacity | 32 MW |
| Battery Energy Storage | 55 MWh |
| Desalination Backup Capacity | 8 ML / day (brackish) |
| Rental Allocation | 40% |
| Construction Period | Year 2 – Year 8 |
| First Unit Handover | Quarter 11 |
| Final Unit Handover | Quarter 23 |
| ESG Certification | EDGE Zero Carbon |
7.4 Aether Horizon Coast — Durban
Aether Horizon Coast is positioned within KwaZulu-Natal’s North Coast
corridor, capturing both the rapidly expanding tourism economy and the
logistics-driven employment growth associated with Durban port expansion
and the Dube Tradeport. The 190-hectare site combines beachfront
mixed-use development with logistics and retail integration, smart
healthcare clinics, urban farming systems, and integrated tourism
infrastructure including serviced-apartment offerings.
| Horizon Coast Metric | Value |
|---|---|
| Total Apartments | 10,500 |
| Total Development Value | ZAR 14.1 billion |
| Land Area | 190 hectares |
| Solar PV Capacity | 60 MW (hybrid) |
| Battery Energy Storage | 85 MWh |
| Urban Farming Area | 6 hectares |
| Serviced Apartment Allocation | 8% |
| Construction Period | Year 3 – Year 9 |
| First Unit Handover | Quarter 14 |
| Final Unit Handover | Quarter 27 |
| ESG Certification | EDGE Advanced + Green Star SA |
7.5 Portfolio Phasing Strategy
The portfolio phasing strategy is designed to optimise multiple
objectives simultaneously: (a) staggered capital deployment to manage
liquidity through the development cycle, (b) sequential demonstration of
operating capability before scaling, (c) geographic diversification of
sales-cycle risk, and (d) management bandwidth allocation. Sky District
commences construction first (Quarter 5 of the programme) and represents
the platform’s proof-of-concept at scale. Atlantic Quarter follows 12
months later (Quarter 8), benefiting from operating learnings
transferred from Sky District. Horizon Coast follows a further 12 months
later (Quarter 12), allowing both Sky District and Atlantic Quarter
operating teams to support construction-phase commissioning.
This phased approach allows the Company to demonstrate execution
capability, secure follow-on financing on improved terms, and capture
institutional capital interest at each successive milestone. By Quarter
16 (Year 4), three precincts are concurrently in construction,
generating peak capital intensity and producing the cash flow profile
detailed in Section 17.
7.6 Unit Typology Mix
Across the portfolio, the unit typology mix has been calibrated to
address the demographic and affordability profile of South Africa’s
emerging middle class:
| Unit Type | Size (m²) | Avg Price | Portfolio Share |
|---|---|---|---|
| Bachelor / Studio | 28–38 | R 650,000 | 12% |
| 1-Bed Compact | 42–56 | R 920,000 | 26% |
| 1-Bed Premium | 55–68 | R 1.18m | 14% |
| 2-Bed Standard | 68–85 | R 1.55m | 22% |
| 2-Bed Family | 85–98 | R 1.85m | 12% |
| 3-Bed Family | 105–125 | R 2.40m | 8% |
| 3-Bed Premium / Penthouse | 130–185 | R 3.85m | 4% |
| Townhouse / Cluster | 145–195 | R 2.95m | 2% |
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Aether Living Developments (Pty) Ltd.