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DBSA funds construction of Durban student accommodation

24th June 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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The Development Bank of Southern Africa (DBSA) on Tuesday signed a R90-million long-term loan facility to fund the construction of a new student village at the Durban University of Technology (DUT) campus.

The development would offer 804 beds and would enable DUT to provide accommodation for some of its students who are currently living off campus.

DBSA South Africa financing division group executive TP Nchocho said the loan facility formed part of the bank’s strategy of modernising administrative and learning facilities, while also dealing with significant backlogs in student accommodation, at many contact universities in the country.

“We are pleased to be part of this intervention, which signifies the bank’s commitment to addressing on-campus student accommodation at our universities, where only 20% of students are housed in secure, decent accommodation within walking distance [of] lecture halls and libraries,” he said.

The DBSA noted that the current backlog of student accommodation at South Africa’s 22 contact universities was estimated to be 195 815 beds, which would cost about R82-billion.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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