Property developer Nu-Way Developers will start building the multibillion-rand Coega Ridge Housing Estate between Motherwell and Coega in 2018.
The project is located
outside Port Elizabeth in the Eastern Cape. Nu-Way executive director Jordan Mann announced to government and private-sector delegates that the project was on track to break ground in 2018 and had the backing of the Coega Development Corporation.
“This project will alleviate Nelson Mandela Bay’s housing backlog of 87 000 units by almost half through the construction of 40 000 housing units. Not only will Coega Ridge help substantially dent the metro’s housing shortage, but, as the Coega industrial development zone (IDZ) attracts more top industries, we will also build the housing they will need as our project caters for all tenure groups,” he says.
Mann adds that about 5 000 jobs a month will be created during the construction phase, while the entire project has a capital expenditure value of R20-billion.
Moreover, a new wastewater treatment plant is planned to be built by the Coega IDZ adjacent to the Coega Ridge development site. Mann believes that this is a huge boost for the housing project.
“The sewer pipeline will run from Coega to Motherwell and will help unlock the greater Coega Ridge project,” he notes.
The project covers about 3 200 ha of land along the R335 to Addo, and Nu-Way was given approval by the provincial Department of Economic Development, Environmental Affairs and Tourism to proceed with the town planning for the project.