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Steyn, who passed away earlier this year at 72, opened the 2,000-acre estate in 2015.
With an estimated net worth of R70 billion in 2024, Steyn’s ventures involved insurance, property and hotels.
In 1975, Steyn founded Steyn’s Insurance Brokers in Johannesburg, seeing the value of a policy that covered both cards and home contents.
After a brief stint in the USA, Steyn returned to South Africa in 1985 and obtained an insurance licence that allowed him to pioneer a global first, selling motor insurance over the phone.
He then launched Auto & General Insurance in Johannesburg, reshaping the entire industry by using a new way of selling insurance.
Auto&General’s success resulted in its expansion, with several new brands opening, including Budget, 1st for Women, Dialdirect, 1Life and hippo.co.za, which are now housed under the TIH umbrella.
Steyn would also find the UK-based insurance company Comparethemarket, which compares insurance prices via its website.
On top of his insurance empire, Steyn would go on to create Steyn City. The idea of the city was to create a haven for families across generations.
Steyn was blessed by his friend, former President Nelson Mandela, to build the development.
The initial investment was R6.5 billion, with it opening to the public in 2015. An additional R5.5 billion was injected in 2019 to improve the infrastructure and amenities.
Set on roughly 800 hectares, it is one of the most significant developments of its kind in South Africa.
What’s on offer
The properties on sale at Steyn City are also incredibly varied, with the convenience of an apartment, a lock-up and go cluster, a freehold stand to design your dream home and a retirement home at a Senior Village.
The varied plots on sale at Steyn City are designed to offer a place to live to everyone, regardless of their age.
Several amenities are also on offer, including a Nicklaus-designed championship golf course designed for golfers of all levels.
Apart from its stunning views, the course has a state-of-the-art golf academy, gym, luxurious changing rooms, a Pro Shop, an award-winning clubhouse and seven-star service.
The estate also features a 300-metre lagoon that turns into a playground and offers watersports, including SUP boards, pedal boats, kayaks, and water slides.
There are also padel courts, a restaurant and bar, a tuckshop, beach volleyball and a basketball court.
The property also features a 50km mountain bike trail, which provides a challenging, exciting track right outside the residents’ doors. A 45km promenade is perfect for walking dogs or running.
The Steyn City School also accommodates learners from early years to matric, following an internationally accredited IEB curriculum.
The estate also offers AAA-grade offices via Capital Park. The 150 sqm to 1,400 sqm offices provide easy access to Fourways, Sandton and Midrand, making them ideal spaces for a business.
For those with an artistic sense, there are also several large pieces of land art throughout the estate.
New World Wealth acknowledged that the estate is one of the top ten residential lifestyle estates globally, praised for its convenience, safety, and luxury.
Although the property has been praised for its sophistication, it has also faced criticism for showcasing the nation’s extreme inequality, where its wealth is situated adjacent to Diepsloot, an informal settlement.
EFF Leader Julius Malema criticised the estate as a symbol of inequality, with other arguing that it exacerbates urbain inequality.
However, others have noted that development created over 11,800 jobs and contributed positively to local economic development.
“By actively engaging with the community, Steyn City contributes to the economic development of the region, creating a ripple effect that extends beyond the confines of the project itself,” said Steyn City.
“This commitment to fostering both community and economic growth reflects Douw Steyn’s vision of an inclusive future for South Africa.”
Images of the development can be found below:
Issued on BusinessTech by Luke Fraser
