The luxury units will be on offer at prices ranging from R9m to a cool R17,25m. That translates into a rand/sq m rate of between R40 000 and R43 000, which is on a par with asking prices at Sandton Skye, another new luxury apartment development currently under construction on Grayston Drive.

The highest price paid for an apartment in Johannesburg to date is believed to be a staggering R50m (around R77 000/sq m) for a 650 sq m penthouse apartment at the new Da Vinci development on Nelson Mandela Square end-2009. Before that neighbouring Michelangelo Towers, also on Nelson Mandela Square, held the record with a 500 sq m unit sold for R35m (R70 000/sq m).

That places upper end sectional title prices in Sandton on a par with that of Cape Town's Atlantic Seaboard, traditionally regarded as South Africa's most desirable and expensive stretch of residential real estate. Big-ticket sectional title units on the Atlantic Seaboard typically sell for between R50 000/sq m and R80 000/sq m.