Name and Location
Spring Valley housing project, Mpumalanga, South Africa.

Client
Spring Valley Developments, a special-purpose vehicle comprising International Housing Solutions’ South African Work Force Housing Fund, which holds a 62.6% share as a majority shareholder, and Diluculo Property Trading, which holds a 37.4% share of the development.

Project Description
The Spring Valley Housing project, located in Duvha Park, eMalahleni, is situated on 220 ha, in Duvha Park Extensions 3 to 14 and includes the installation of required bulk and link infrastructure.

The development is targeted at the lower- to middle-income market and comprises 2 951 residential stands for freestanding houses and six stands earmarked for the development of sectional title walk-up units. Provision has also been made for schools, churches, crèches and retail developments. Through its thermal coal division, global mining giant Anglo American has embraced this project and has partnered with Spring Valley to make the housing affordable for its employees through the company’s home-ownership scheme. The scheme aims to have the majority of its workforce living in sustainable settlements, located in urban centres that are in the vicinity of the company’s mining operations.

Value
R1.35-billion.

The project is funded in part by International Housing Solutions’ R1,9-billion South African Work Force Housing Fund.

Duration
The development was launched in mid-2008.

Latest Developments
Bulk services for the first phase have been completed and construction has started on a large scale.

To date, 500 stands have been sold to development company MDV Developments, which specialises in affordable housing. MDV has completed about 150 houses, with the balance still under construction.

Key Contracts and Suppliers
International Housing Solutions (funding), Bigen Africa (project and development manager) and MDV Developments (construction).

On Budget and on Time?
Not stated.

Contact Details for Project Information
International Housing Solutions, tel +27 11 300 8600 or email infoSA@intlhousingsolutions.com.
Bigen Africa, tel +27 12 842 8700, fax +27 12 843 9000/9001 or email pretoria@bigenafrica.com.
MDV Developments, tel +27 12 653 8080 or fax +27 12 653 8049.