Work has begun on the R44 Billion, “Mooikloof Mega City” residential project in Pretoria. The scheme, called the largest of its kind in South African history, will involve the building of 50 000 apartments over a 10 year period, with the development of an initial 16 000 apartments to the value of R9.6 Billion. These apartment prices will range from R499 000 to R799 000. These initial units fall under the ‘Green/Classic Collection’, which include ‘Greenkloof’ in Mooikloof, ‘Green Creek’ & ‘The Blyde’ in the Riverwalk Estate, which is located in close proximity to Mamelodi. Majority of these latter units, in its initial phases have already been sold out.
Steve Brookes, founder, and chief executive of Balwin, said that the Mooikloof Mega City could be defined as housing opportunities for people earning a combined monthly income between R3 501 and R18 000.
“First-time home buyers and qualifying individuals will have assistance through the Finance Linked Individual Subsidy Programme. The programme grants first-time home buyers a subsidy towards the purchase of a home of between R27 960 up to a maximum of R121 626.”
The new mega city will address the housing needs of the ‘missing middle’. These include people who earn too much to qualify for fully subsidised housing but who don’t earn enough to afford debt-financed housing in areas of their choice. Apart from the provided accommodation to the ‘missing middle’, this project will create roughly 115 000 direct and indirect job opportunities throughout the project timeframe.
The development is located off Garsfontein Drive and an estimated 6km from the junction with De Ville Bois Mareuil Drive, where Woodlands Boulevard Mall is located, and 8km from Solomon Mahlangu Drive, which gives access to the N4 and other main arterial routes.
The surrounding townships include Woodhill Golf Estate, Mooikloof Equestrian Estate, Mooikloof Heights, Mooikloof Ridge, The Hills Golf Estate, Grootfontein Country Estate and Mooikloof Glen.
The project will consist of a residential node, two educational facilities and a commercial node, which will include retail shops and offices. The development is part of the green initiative and will therefore make it more affordable. The buildings will be fully green-classified, as they will make use of solar, water & black-water harvesting.
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