N$125 million for WHK erven
08 March 2018 | Infrastructure
The combined sales value of these erven is about N$125 million, with most being sold at around 30% above the upset price. “However, the focus is to ensure that erven remain affordable,” says Scheifert Shigwedha of the CoW.
Of the allotted single residential zoned erven, 144 were allocated by way of tender, 44 to first time buyers by way of private treaty, and 22 to CoW employees through offer to purchase.
Successful bidders have 90 days from the date of council approval to sign a Deed of Sale. In the event that the first bidder fails to do so, it will be offered to the second person in line.
Amongst the requirements to be a successful bidder, residents must ensure that they are not in arrears with municipal services.
In other developments, 111 erven were serviced at Otjomuise extension 5 through the City's public private partnership (PPP) with Ino Investment, while 102 erven in Academia extension 1 were serviced through the City's arrangement with Acacia Investment Holdings.
“The City had to embrace the PPP method as it is amongst the most workable solutions to improve the pace to service land in the city,” Shigwedha said at a media briefing last week.