Nicklaus, Els plan first collaboration in South Africa

Waterberg, north of Johannesburg, will feature a co-design golf course and game reserve

Waterberg will feature the first collaboration from Jack Nicklaus and Ernie Els.

A unique concept, which marries the lure of big game and the love of championship golf, will be highlighted by the first-ever design collaboration from Jack Nicklaus and Ernie Els, as the two team up to create a world-class layout at Waterberg, one of the fastest-growing areas in South Africa.

Waterberg is located just 90 minutes north of Johannesburg, in the northeast region of South Africa, and is ideally positioned to capitalize on the burgeoning market for weekend homes.

Nicklaus and Els joined the ownership group in acquiring an existing game farm, which will be developed into a world-class golf estate inside a "best of breed" game reserve, in the process creating a unique and exciting residential and resort facility.

Waterberg boasts 2,800 hectares (or over 6,900 acres) of magnificent bushveld with an abundance of water in a malaria-free area. Residents will be able to view almost all of the major species of game on the property, including four of the Big 5.

"Ernie and I have never designed a golf course together," Jack Nicklaus said, "and this is the first time that a golf course has been designed to become one with the game reserve."

"Waterberg represents a special opportunity for me, both professionally and personally," added Els. "It gives me the chance to work closely with Jack, which I am really looking forward to. I share his enthusiasm and have very high expectations that we will create a special golf course".

The estate borders on one of South Africa's four UNESCO Biosphere Reserves, and a team of local experts has been appointed to research the very best and most responsible use of the land, at all times adhering to the principles prescribed by the program designed by Biosphere Reserves.

"The sensitive integration of the development with the environment as well as the local community is of paramount importance to us," said project manager and owner's representative, Tony Georgiou. "Our housing concepts and the accompanying architectural and landscape guidelines bear testimony to the commitment that we have made to uplifting and enhancing the environment."

In addition to 280 residential lots, there will be 260 golf and bush lodges, as well as a luxury hotel, including conference facilities and a wellness centre, which together with the facilities demanded by today's discerning client, will ensure that Waterberg is indeed unique in the world.

A credible and formidable consortium, with many years of appropriate experience, is developing the property. Jack Nicklaus and Ernie Els have taken a stake in the development company, whose partners include Wilson Bayly Holmes Ovcon, a company listed on the JSE Securities Exchange South Africa (JSE) and responsible for a construction portfolio in excess of R3 billion (approximately $500 million) per year; and Golf Data, the leading golf course construction firm in South Africa.

The team is further strengthened by Jonathan Stern, a New York-based property developer with 20 years experience in similar developments, which include The Ritz-Carlton Golf Club, a Jack Nicklaus Signature Golf Course development in Jupiter, Florida.

Approval for the project is anticipated in early 2005, and sales should launch in March.

The final value of the project is expected to top R1.5 billion (approximately $250 million) and the world's first Nicklaus-Els collaboration will focus the global spotlight on the Waterberg area, accelerating the investment in an area which has already seen properties double in value over the past 24 months.

"We will raise the bar substantially and set new standards in all aspects of golf course design and construction, eco tourism and resource management, as manifested by our development framework," Georgiou said. "Any investors looking at real estate in this sector of the market would do well to consider Waterberg, which is expected to establish a new trend in modern living through the convergence of recreation and nature into quality family time."

Visit Waterberg on the web at www.waterbergestate.com.