Alleyroads apartments project, South Africa
Name of the Project
Alleyroads apartments project.
Location
Johannesburg, Gauteng, South Africa.
Project Owner/s
Alleyroads.
Project Description
The project involves the construction of more than 1 000 rental apartment units. The development is aimed at lower- to middle-income households with an average yearly salary of about R238 000.
The apartments will comprise two bedrooms with an average size of 62 m2. They will be built near hospitals, schools and markets, and will provide green spaces and play areas for children.
Alleyroads will install on-site solar panels to supply about 30% of the development’s energy needs.
Potential Job Creation
The project also aims to support economic activity by creating 860 jobs during the construction phase and 45 jobs during the operating phase.
Capital Expenditure
The International Finance Corporation will loan R325-million to Alleyroads to help the company finance the construction of the apartments.
Planned Start/End Date
Project completion is scheduled for 2023.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Alleyroads, email info@alleyroads.co.za.
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