Rabie Launch Shows Faith in Market
Rabie Property Group has led the way in launching the first significant new residential project in Cape Town since the property downturn in 2008. Little Moorings, a R55-million residential development at Century City, was launched on 25 February.
According to Rabie Director, John Chapman, “What gave us confidence to launch Little Moorings at this point were the lead indicators: interest rates are down, and seem to have stabilised at low levels; markets generally seem to be recovering with various confidence business indexes improving; the stock market is moving towards positive growth again. Companies generally are more optimistic about future earnings, new car sales have had an upward turn, and we know that the property market tends to follow these indicators.
“Also critical was the availability of credit once again. While applying strict lending criteria, the banks are showing willingness to finance property once more and there is clearly greater liquidity in the market. So we felt that now was the right time to get out of the starting blocks with an off-plan project, where transfer is only due in 18 months time.
“Allied to our confidence in the market conditions was our belief in the specifics of our product – apartments in a boutique residential development selling for under R1 million in one of the very last developable waterfront sites at Century City – and our faith in the advertising campaign, which was conceptualised and designed by Machete Creative.
“We had many months to fine-tune and tweak the creative on this campaign before the launch and I think it shows in the quality of the work, which presents the off-plan development in fresh, eye-catching and highly appealing way.”
The campaign consisted of a mix of run-of-paper press advertising, PR, a large-format printed flyer, website, emailers, and point-of-sale elements. For more information on Little Moorings visit www.rabie.co.za or phone Rob Downey of Property World on 021 555 0105.