https://www.engineeringnews.co.za

Basil Read to start work on R24.5bn housing project before year-end

4th September 2013

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

Construction group Basil Read and the Housing Impact Fund of South Africa (HIFSA) have signed the final approvals for South Africa’s largest privately initiated integrated, mixed-use housing development, Savanna City.

Construction on the R24.5-billion development, to be located 35 km south of Johannesburg’s business district, was expected to start before the end of this year, and would stretch over a ten-year period, Basil Read development director Davina Piek told Engineering News Online.

The 1 462 ha development would include 18 486 housing units, with a minimum of 60% of the units being in a category that meant government’s ‘Breaking New Ground’ strategy was advanced. This strategy focuses on achieving sustainable human settlements, and addressing the so-called Gap market.

Savanna City would further include 16 schools, 8 churches, 9 business and retail facilities, 111 public parks and a 400 ha environmental area.

Basil Read stated that it and HIFSA would be working hand in hand with the Gauteng Department of Human Settlements and the Midvaal local municipality to ensure the Savanna City development set a new benchmark in economic development and housing.

The R9-billion HIFSA was created by Old Mutual in conjunction with the Development Bank of Southern Africa and the Government Employees Pension Fund.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer
Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.064 0.109s - 137pq - 2rq
Subscribe Now