Name of the Project
Mooikloof Mega City.
Location
The project is located in Pretoria East, in Gauteng, South Africa.
Project Owner/s
Balwin Properties (70%) and Seafront Lux (30%).
Project Description
The Mooikloof Mega City is a megascale catalytic development, which will promote inner city revitalisation, as well as corridor and transit node densification. The project has been designated by the Presidential Infrastructure Coordinating Commission Council as a strategic integrated project (SIP).
The project has been specifically designed for the gap housing market, which can be defined as housing opportunities for people earning a combined monthly income of R3 501 to R18 000 or for those who earn too much to be considered for government housing but too little to qualify for a bond. The project plans to build about 16 000 residential apartments, with the potential to increase this to 50 000 apartments. The first phase will comprise 2 500 units, which may increase to 16 000.
Potential Job Creation
The first 16 000 units will create about 37 000 job opportunities. The total proposed 50 000-unit development is expected to create about 115 000 direct and indirect jobs.
Capital Expenditure
The project is valued at R44-billion.
The SIP designation means that the Department of Public Works and Infrastructure will pay for all external bulk services installations such as water, sewers, electricity, roads and stormwater runoffs for the project, for which government has earmarked R1.4-billion.
Planned Start/End Date
The first occupants are expected to move in in March 2021.
Latest Developments
None stated.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Balwin Properties, tel +27 11 450 2818.