New development for capital
More than 25 000 housing units, four business centres and 48 institutional plots are on the cards.
01 October 2018 | Local News
The Ongos Valley Project will see a mix of urban development together with all the facilities and amenities associated with a large development.
The development is in response to the critical need for affordable housing in the country, especially in the capital. Situated a few kilometres northwest of the central business district, the land will be sub-divided and serviced into affordable, residential sized plots, offering safe and economical housing solutions for many young Namibians.
Thousands of units
The developers say the focus is on low to middle income households, and the project itself will boast supporting infrastructure like schools, public institutions, clinics, parks and commercial hubs.
At the launch it was said that the developers will spend N$4.3 billion to build 4 500 housing units during the first phase, which is set to start next and continue until 2023.
The 20-year project aims to construct 30 000 housing units.
The developers found that there are currently no products in the market that provide decent housing in the price bracket between N$450 000 and N$900 000.
They say this price bracket, which is not catered for, is what a significant number of the country's civil servants and young professionals can afford.
According to the developers, they envisage that the project will create more than 10 000 job for skilled, semi-skilled and unskilled youth and will boost the local economy to the tune of N$8 billion.
They say the development will be completed over five phases to ensure limited environmental impact on the natural landscape.
To make the development a reality, Nedbank Corporate and Investment Banking signed a partnership agreement with the Ongos Valley development last year for the servicing and construction of around 3 600 low and middle income residential housing units, totalling N$3.7 billion.
“In the long term,” they say, “this project will provide more than 25 000 housing units for the low- and middle-income classes, four business centres including 106 business plots, 48 institutional plots, and more than 20% of the development dedicated to public and conservation open areas.”
The sustainability framework was carried out by AIJ Project Consultants.