Name and Location
Leratong City integrated nodal development project, Gauteng, South Africa.
Client
The project is a joint venture between McCormick Property Development, Calgro M3 and Sasuka Logistics Services.
Project Description
The 400 ha project will comprise the construction of 15 000 residential units, an intermodal transport hub, a government precinct and a 30 000 m2 regional mall.
The project will include 4 200 fully subsidised Breaking New Ground units; 8 300 Grass Roots affordable housing units, Finance Linked Individual Subsidy Programme and Social Housing subsidised rental units; and 2 500 freehold housing units aimed at the affordable housing market.
Units will be available for families qualifying for fully subsidised units to families earning more than R15 000 a month, resulting in a housing solution based on a wide range of financial capacity.
To complement the housing and other facilities, essential social amenities, such as crèches, a community centre, educational facilities and healthcare facilities, will be developed.
Other amenities will include mixed-use business centres, religious sites, various recreational parks and green spaces, as well as public sports facilities.
To accommodate for the predicted increase in traffic, the project will build and upgrade major roads and provide critical links for connecting suburbs.
Further, plans are in place for the construction of a major sewer and water supply upgrade, in addition to the construction of a new electrical substation, to support the development and surrounds.
Value
R6.2-billion.
Duration
The project is expected to get under way in June this year.
Latest Developments
None stated.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Cambial Communications on behalf of Calgro M3, Gillian Findlay, tel +27 11 486 3561.
Calgro M3 investor relations, Kevin Eidelman, tel +27 11 300 7500 or email info@calgrom3.com.
McCormick Property Development, tel +27 12 654 6330.
Sasuka Logistics Services, tel +27 11 843 1441.