http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.22Change: -0.23
R/$ = 11.16Change: -0.09
Au 1240.10 $/ozChange: -4.17
Pt 1243.50 $/ozChange: -18.70
 
 
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  
 
 
Jun 29, 2012

Gauteng Partnership Fund marks housing development milestone

Back
GPF CEO Kutoane Kutoane and GPF CIO Boni Muvevi speaks about the company's milestones. Camerawork: Nicholas Boyd. Editing: Darlene Creamer.
Construction|Ekurhuleni|Engineering|Johannesburg|Pretoria|Rama City|Soweto|Housing|PROJECT|Projects|Rental|Nelson Mandela Bridge|Building|Boni Muvevi|Kutoane Kutoane
Construction|Engineering||Housing|PROJECT|Projects|Rental||Building|
construction|ekurhuleni-city|engineering|johannesburg|pretoria|rama-city|soweto|housing|project|projects|rental|nelson-mandela-bridge|building|boni-muvevi|kutoane-kutoane-person
More Insight
© Reuse this



Housing development funder the Gauteng Partnership Fund (GPF) reports that, to date, it has successfully completed over 100 projects, which translates into about 18 000 units.

The fund believes that its Brickfields project has been its most successful project. The project is located between West and Bezuidenhout streets at the foot of the Nelson Mandela bridge, in Johannesburg.

This project was constructed in two phases, with construction starting in 2004. The first phase comprised 631 units and the second phase 178 units. The project comprises 809 mixed-use units, including low- to moderate-rise buildings, most being three-storey walk-ups.

Speaking to Engineering News, GPF chief investment officer Boni Muvevi says that most of its projects are based in the Johannesburg central business district; however, the fund has also helped develop projects in the greater Germiston area, Soweto and Pretoria.

The GPF funds both newly built projects and conversion projects. The latter entails the conversion of old office buildings into residential buildings.

“There are a number of buildings in the inner cities that need an upgrade. In a way, it is indirectly ensuring that there is some sort of revenue for government. Some of the buildings in the city are not paying rates and taxes, and when you rejuvenate areas, you will increase revenue. However, we encourage greenfield housing stock, as it gives the developer a superior location. This also promotes development in certain areas that need it – for example, townships,” he notes.

Muvevi points out that the company is now looking to develop another 20 projects in the next year. “There is a big project in Garangkuwa, called Rama City, which we are currently aiming to participate in, as well as a number of projects in Pretoria and Ekurhuleni.

“We view Kempton Park as a vital development node, as government has planned the development of an aerotropolis in the area, which will create huge demand for housing in the area,” he notes.

GPF CEO Kutoane Kutoane tells Engineering News that the fund’s mandate is to fund afford- able rental housing. “[There are] two cate- gories, the first being social housing, which is government-supported housing, with the second being entrepreneurial funding, where an entrepreneur is [provided with] the capital to develop rental stock.

“An entrepreneur is able to approach the GPF, which would provide the first layer of risk capi- tal. This will then enable the entrepreneur to approach other funders, such as senior debt funders, whereafter a housing development package will be set up and rolled out.

“We are not commercial funders as such, so we look more at the broader socioeconomic impact, and one of those is if you develop housing, you improve people’s social esteem and enable productivity. Further, when you develop housing through a rapid housing development programme, the material supplies industry will develop, further increasing employ- ment,” he says.

To procure funding, Kutoane explains, one must have a secure project, whether it is a greenfield project or the refurbishment of an existing building. “The most significant criteria are that the entrepreneurs can run with the project and that they are serious about their business, and not just fly-by-night developers.

“In the next fiscal year, we aim to increase our funding reach, depending on the additional capital we receive from government. If we achieve that, we will be able to form an expanded network of funding and development partners, rolling out more projects,” Kutoane concludes.

Edited by: Martin Zhuwakinyu
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other News This Week News
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
More
 
 
Latest News
Trade union Solidarity warned on Wednesday that ongoing restructuring and retrenchments in the information and communication technology (ICT) industry continued to put employees in the sector under “immense” pressure. This as the union claimed it had received...
Directors of investment holding company Combined Motor Holdings (CMH) say they are satisfied with the results achieved in the six months ended August 31, during which time the local economic environment continued to battle impediments to growth and national dealer...
In the Medium-Term Budget Policy Statement Finance Minister Nhlanhla Nene has outlined concrete plans to consolidate South Africa’s pubic finances and restore macroeconomic balances. The proposed adjustments – lower than planned spending and increased tax revenues -...
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
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.
 
 
 
 
 
This Week's Magazine
The broad-based black economic-empowerment (BBBEE) alignment process in the con-struction sector has begun, dur-ing which the sector codes of the Construction Sector Charter Council (CSCC) will be aligned with the revised Codes of Good Practice (CoGP), which come...
It is second time lucky for Toby Venter. Ten years ago he negotiated to buy the Kyalami racetrack, but “the deal did not materialise”.
Environmental solutions company I-Cat started construction work on its R22-million, 1 949 m2 environmentally sustainable office and warehouse facility, commissioned by I-CAT Environmental Solutions, at a launch event in October. The new sustainable I-CAT campus,...
IAN EVANS AirWatch file synchronisation and sharing system was initially designed for a large airline company
Effective file synchronisation and sharing across an organisation’s structures can provide the basis for robust mobile-device and document management while maintaining proper backup, version control and content distribution. These are the lessons learned by complex...
Hotel group Carlson Rezidor currently holds the largest hotel pipeline in Africa with 30 hotels and 6 300 rooms under development. The hotel group develops and operates Radisson Blu in the upper upscale segment and Park Inn by Radisson in the mid-market segment. With...
 
 
 
 
 
 
 
 
 
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