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Background
- In response to a call for proposal from the government The Developers joined forces for the development of the Housing Project near Pretoria, Gauteng, South Africa.
- The Development comprises 11 000 various low-cost and affordable rental and sale housing units.
- The Developers have acquired the development rights over the land, valued at R100m, which will be contributed as equity.
- The Development will not only benefit the identified town but will also assist the Authority and the Government to deliver on their mandate to provide affordable housing to low income earners who would otherwise be excluded from accessing decent accommodation for their families.
- The Developers have been awarded by the Government, subject to demonstrating financial capacity to finance the Project.
- The Project Development costs are estimated at R4050 million.
- The Governmental entities will, as per the scheme, provide Grant funding of approximately R2240 million over a 4-year roll out period for the purchase/subsidy of various units.
- The Project IRR is in excess of 15%.
- The developers are looking to raise the balance of the funding, of approximately R1700m, for the Project
The Developers
Developer 1.
Developer 2.
Proposed Development
Topology
Housing Typology Number of Units
Community Rental Units (CRU) 1 000
Low Cost Subsidy Sale Housing (BNG) 3 000
Open Market Sale Housing (Affordable) 1 100
SHRA Rental Units 3 800
FLISP Sale Units 1 000
Open Market Rental Units (OMRU) 1 100
TOTAL 11 000
Developer 1.
- Formed in 1995, servicing the commercial, industrial and residential markets of South Africa.
- Has over 20 years of experience, a highly skilled management team as well as over 600 staff.
- The largest fully black-owned construction company with CIDB ratings of 9GB and 9CE enabling projects of unlimited value and size to be taken on and built with capability and pride.
Developer 2.
- Formed in 2007. Management team has extensive experience in all aspects of the initiation, structuring, implementation and operation of capital investment projects.
- Level 1 BEE contributor.
- Member of SESSA, South African Facilities Management Association
Proposed Development
Topology
Housing Typology Number of Units
Community Rental Units (CRU) 1 000
Low Cost Subsidy Sale Housing (BNG) 3 000
Open Market Sale Housing (Affordable) 1 100
SHRA Rental Units 3 800
FLISP Sale Units 1 000
Open Market Rental Units (OMRU) 1 100
TOTAL 11 000
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Interested? For more information including business plans, please contact:
Office Africa
Kennedy Makimii
nmakimii@firmfactoryafrica.com
+254202448888
Office Europe
Jan Reijer Brons
jrb@firmfactoryafrica.com
+31653354494
Office Africa
Kennedy Makimii
nmakimii@firmfactoryafrica.com
+254202448888
Office Europe
Jan Reijer Brons
jrb@firmfactoryafrica.com
+31653354494