Coega IDZ
Developer Nu-Way Housing Developments on Tuesday said it would go ahead with a “mammoth” mixed-use residential development after securing approval from the Department of Environmental Affairs.
The R6-billion Coega Ridge development, adjacent to the Coega industrial development zone (IDZ), near Port Elizabeth, would boast 40 000 housing units catering for all tenure groups, including subsidised, rental, affordable and high-income housing.
“The phenomenal growth of the Coega IDZ, with projects in the pipeline like the PetroSA refinery, is seeing a massive need for mixed-use housing in the area,” explained Nu-Way executive director Jordan Mann.
Phase 1 would see up to 2 500 housing units being constructed on the 3 200 ha Coega Ridge site within 24 months, pending the approval of the project’s town planning and the cooperation of stakeholders.
The six- to ten-year development would also include community facilities, schools, a university, a technical college, a hospital, neighbourhood shopping centres and a regional shopping centre, spanning up to 110 000 m², noted Mann.
The plan envisaged the addition of a light industrial area, a railway station, office parks and a sports academy, as well as an upmarket eco-estate with a golf course and a hotel.
At the height of construction, up to 5 000 jobs a month would be created.