http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.35Change: 0.23
R/$ = 11.64Change: 0.02
Au 1189.17 $/ozChange: -6.92
Pt 1193.00 $/ozChange: -7.50
 
 
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
© 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 Property Developments News
A roads project on the N4 that took 42 months to complete instead of 30, had cost Esor dearly, said CEO Wessel van Zyl in November as he unveiled the construction group’s financial results for the six months ended August 31 in Johannesburg. The total loss over the...
JSE-listed capital growth fund Attacq has successfully raised R640-million through an accelerated bookbuild after originally seeking to raise around R500-million to acquire the remaining 18.8 % of its key asset, the Waterfall pipeline, and take full control of the...
Becoming the twentieth company and the seventh real estate investment trust (REIT) to join the Johannesburg bourse this year, property investment and development fund the Pivotal Fund has officially listed on the main board of the JSE. The Monday listing brought the...
More
 
 
Latest News
Updated 7 hours ago South African cement firm PPC on Wednesday named a mining industry veteran as chief executive, ending a three-month leadership vacuum that has hit its shares. PPC's former CE Ketso Gordhan abruptly resigned in September after clashing with the board. He then...
anzania's attorney general resigned late on Tuesday, becoming the first political casualty in an energy corruption scandal in the east African country that has led Western donors to delay aid and weakened the currency. The resignation followed a vote in parliament...
Forces allied to Libya's conflict parties clashed with heavy weapons on Tuesday over control of the country's biggest oil ports in the east as the European Union was considering sanctions on people obstructing U.N.-brokered peace talks. The United Nations had...
More
 
 
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
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.
 
 
 
 
 
This Week's Magazine
South Africa remains an important manufacturing and export platform for Ford Motor Company, says executive chairperson Bill Ford. However, he adds that other countries on the continent are “becoming interesting”, and that the US carmaker is casting its net wider for...
TO BE PHASED INTO SERVICE The first MeerKAT dish, with another 63 to come
Germany’s Max-Planck-Society (MPG) and the Max-Planck-Institute for Radio Astronomy (MPlfR) are investing €11-million (about R150-million) into South Africa’s MeerKAT radio telescope array programme. The money will be used to design, build and install S-band radio...
Infrastructure spend in sub-Saharan Africa will grow from $70-billion in 2013 to $180-billion by 2025, says PwC capital projects and infrastructure Africa leader Jonathan Cawood. This is one of the findings of PwC’s Capital Projects & Infrastructure report on East...
Private-owned defence and aerospace manufacturer Paramount Group and the Ichikowitz Family Foundation unveiled its Anti-Poaching Skills and K9 Training Academy in Magaliesburg last month.
MATT BARKER Wireless networks should enable users to engage and must provide relevant information to them based on their activity and location
The inclusion of Bluetooth to provide sub-three meter accuracy and heightened functionality for users is one of the ways to change existing wireless networks into engagement networks. An engagement network differs from common wireless networks in that it enables the...
 
 
 
 
 
 
 
 
 
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