Basil Read subsidiary breaks ground on R1.85bn Malibongwe Ridge
JSE-listed construction and engineering group Basil Read subsidiary Basil Read Developments on Monday started construction on its R1.85-billion Malibongwe Ridge development, in Johannesburg.
The mixed-use development, adjacent to the group’s Cosmo City development, would comprise affordable housing for over 5 500 families, as well as churches, clinics, parks, schools, commercial and retail opportunities.
Basil Read subsidiary Codevco was tasked with completing the housing project on behalf of the Gauteng Department of Local Government and Housing and the City of Johannesburg.
Codevco would construct 3 240 low-income housing units, with rental rooms; 244 low-income freestanding houses; 669 finance-linked, partially subsidised houses; 604 bonded houses and 754 rental/social housing units.
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