http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.22Change: 0.09
R/$ = 11.27Change: 0.01
Au 1213.15 $/ozChange: 4.46
Pt 1284.00 $/ozChange: -18.00
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Oct 03, 2012

12m people still require adequate housing in SA – PIC’s Masilela

Back
Johannesburg|Africa|Education|FinMark Trust|Housing|International Housing Solutions|Projects|Public Investment Corporation|Systems|Water|Africa|South Africa|Basic Infrastructure Services|Building|Finance|Services|Systems|Transport|Elias Masilela|François Viruly|Infrastructure|Kecia Rust|Water|Sub-Saharan Africa
|Africa|Education|Housing|Projects|Systems|Water|Africa||Building|Services|Systems|Transport|Infrastructure|Water|
johannesburg|africa-company|education-company|finmark-trust|housing|international-housing-solutions|projects|public-investment-corporation|systems-company|water-company|africa|south-africa|basic-infrastructure-services|building|finance|services|systems|transport-industry-term|elias-masilela|franois-viruly|infrastructure|kecia-rust|water|subsaharan-africa
© Reuse this



Despite efforts by South Africa’s government to supply adequate housing for its citizens, a backlog of between 2.1-million and 2.5-million subsidised houses remained, Public Investment Corporation (PIC) CEO Elias Masilela said on Wednesday.

Speaking at the fourth yearly International Housing Solutions developer conference, in Johannesburg, he said that, while the government had built over three-million subsidised houses since 1994, 12-million people still required adequate housing.

A “massive” jump in demand, urbanisation and decades of degradation of the current housing infrastructure all contributed to the lag in building subsidised houses and made the backlog difficult to eradicate.

Currently, about 12.8% of South African households lived in Reconstruction and Development programme houses, while 13.5% of households had at least one person on the waiting list for subsidised housing.

FinMark Trust housing finance theme coordinator Kecia Rust said that about 60% of the South African population earned less than R3 000 a month and were eligible to apply for subsidised housing.

The Department of Human Settlements aimed to eliminate the backlog by 2030 and has committed R16-billion a year to fund housing projects. The PIC was refining it strategy on affordable housing and has already invested R2.6-billion in, besides others, low-cost housing projects and private equity for housing developments.

However, with an increasing rate of urbanisation, government required partnerships with and the involvement of businesses, individuals and institutions to ensure the delays in delivering adequate housing and related infrastructure were eradicated.

Masilela noted that, over the next 25 years, three-billion people globally would need access to housing and basic infrastructure services. This means that 35.1-million housing units, or 96 156 units a day, would need to be built to meet the demand. Sub-Saharan Africa would need to house about 300-million by 2030.

University of Cape Town Professor Francois Viruly added that, while South Africa’s population would most likely stabilise at about 50-million, urbanisation would remain a challenge. It was expected, for instance, that over the next 30 to 40 years, over 10-million people would migrate to Gauteng, creating a challenge in housing options.

Masilela pointed out that, without proper investment and planning into housing infrastructure, water, electricity and transport systems, South Africa’s development could be stunted and fall further behind other emerging countries. The country would also experience increased developments of squalor and informal settlements.

He also commented that housing infrastructure should be a “springboard” for access to education, employment opportunities, health services and affordable transport, while allowing citizens to contribute to the country’s development.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
Updated 6 hours ago Protech Khuthele Holdings on Wednesday said, in a cautionary note to shareholders, that, as the failed company unwound, investigations were ongoing into its affairs. The company provided no indication of the completion date.
Updated 6 hours ago Private equity investors are increasingly becoming more active in Africa’s bid to narrow the $90-billion a year infrastructure funding gap constraining the continent’s growth. This was according to a survey by the Southern African Venture Capital and Private Equity...
JSE-listed Redefine Properties on Wednesday closed an accelerated bookbuild, raising R1.36-billion, placing around 143.1-million shares at a price of R9.50 a share. The company announced the accelerated bookbuild on Wednesday morning to initially raise about...
More
 
 
Latest News
Updated 6 hours ago Protech Khuthele Holdings on Wednesday said, in a cautionary note to shareholders, that, as the failed company unwound, investigations were ongoing into its affairs. The company provided no indication of the completion date.
Updated 6 hours ago Private equity investors are increasingly becoming more active in Africa’s bid to narrow the $90-billion a year infrastructure funding gap constraining the continent’s growth. This was according to a survey by the Southern African Venture Capital and Private Equity...
Updated 7 hours ago The shortlist of innovations in the Africa Prize for Engineering Innovation was announced on Wednesday, comprising 12 new innovations from seven African countries. The shortlist announced by the UK’s Royal Academy of Engineering (RAEng) included innovations in...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
The latest TransUnion Vehicle Pricing Index (VPI) contains a number of small, but significant indications that the tide may at last be turning for the beleaguered used car industry. For the third successive quarter, used car inflation has increased on a year-on-year...
The South African new vehicle market is likely to reach around 630 000 units in 2014, down from the 650 000 units recorded in 2013, says Toyota South Africa Motors (TSAM) president and CEO Dr Johan van Zyl. Van Zyl is also president of the National Association of...
Efforts by the Kenya government to increase energy generation by 5 000 MW over the next three years received a major boost following the award of a $2-billion contract to build a coal power plant in Lamu.  Despite allegations of irregular tendering process, the...
Using crafty wordplay on a well-known Internet meme, brilliant South African-born US entrepreneur and businessperson Elon Musk announced that Tesla Motors would not initiate patent lawsuits against anyone who, in good faith, wanted to use its technology. Instead,...
August new vehicle sales declined by 1.4%, to 55 722 units, compared with the same month last year. Assisted by the car rental market, the South African new passenger car market, at 37 953 units, contracted by 1 047 units, or 2.7%, compared with August last year.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks