http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.75Change: 0.07
R/$ = 10.91Change: -0.06
Au 1205.55 $/ozChange: -18.63
Pt 1252.50 $/ozChange: -17.70
 
 
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 Property Developments News
Updated 4 hours ago The Paledi Mall, in the Limpopo town of Mankweng, has opened its doors to shoppers after undergoing a R282-million refurbishment. The community shopping centre, which was partly financed by a R125-million loan provided by Nedbank Corporate Property Finance to...
Article contains comments
Len van Niekerk has resigned as CEO of JSE-listed Fountainhead Property Trust, effective November 30. Fountainhead executive director Andrew Konig will succeed him as CEO.
Andrew Parsons
Despite several real estate investment trusts (REITs) extolling the virtues of portfolio diversification, Resolution Capital Australia MD Andrew Parsons has cautioned against this strategy, advising trusts to rather simplify and specialise their asset portfolio....
More
 
 
Latest News
Updated 12 minutes ago Sasol announced on Thursday that its broad-based black economic empowerment (BBBEE) transaction, Sasol Inzalo, has been partially refinanced, making a significant contribution to reducing its financing costs. The refinancing would see shareholders of Sasol Inzalo...
Updated 21 minutes ago International packaging and paper group Mondi has attracted a long-term credit-rating upgrade from Moody’s Investors Service. In a statement to shareholders on Thursday, the dual-listed group announced the credit rating hike from Baa3 to Baa2.
Updated 56 minutes ago Sephaku Holdings, which is in the process of finalising its interim results for the six months ended September 30, expects to swing to a basic loss a share of between 1.9c and 2c for the half-year, from basic earnings a share of 3.32c in the first half of the prior...
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
Integrated energy and chemical company Sasol has partnered with Unisa Graduate School of Business Leadership (SBL) professor and founder and CEO of PanAvest Partnership Dr Douglas Boateng to publish a series of books on executive supply chain management aimed at...
MORNÉ DU PLESSIS Increased urgency and burgeoning awareness of the importance of these issues are beginning to change political risks and, thus, State responses to environmental concerns
The World Wide Fund for Nature’s (WWF’s) 2014 Living Planet Index (LPI) indicates that there has been a 52% decline in vertebrate species since 1970. The Index tracked the trends of 10 000 discrete populations of over 3000 vertebrate species between 1970 and 2010.
Rwanda has joined a number of East African countries seeking to import electricity from Ethiopia as its demand grows. After it became apparent several generation project it is implementing will not come on stream early enough, now plans to import 400 MW from Ethiopia...
Metrorail’s first new passenger train will arrive in November next year, says Passenger Rail Agency of South Africa (PRASA) CEO Lucky Montana. “Next year we will be able to put our hands around the infrastructure and equipment we have been talking about for so long.”
The Competition Commission has launched an investigation into what it says are “price fixing, market division and collusive tendering in the market for the manufacture and supply of automotive components to original equipment manufacturers” (OEMs, or vehicle...
 
 
 
 
 
 
 
 
 
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