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THE USD $5BN “mega city” to be built in eastern Pretoria has officially started work.
Dubbed “Mooikloof Mega City”, the development is the largest of its kind in South African history.
The project was launched in a special ceremony on 4 October 2020 attended by President Cyril Ramaphosa.
Above: Mooikloof will be the largest development of its kind in South Africa (image courtesy of Balwin Properties).
Over the next decade 50,000 apartments will be built under the scheme in what may end up becoming the world’s largest sectional property development. Land has also been put aside for schools, shops, offices and other commercial buildings.
The first phase of construction will consist of 16,000 apartments and will adhere to “green building principles” by making use of green belts and designated spaces for public parks and more.
It is expected to bring in more than USD $4.5BN to the South African economy and create an estimated 41,000 jobs.
Funded by Balwin Properties, the Gauteng provincial government, and the City of Tshwane, the project is a public-private partnership.
Above: Mooikloof is expected to create 41,000 jobs (image courtesy of Balwin Properties).
Ramaphosa has described it as part of a solution to the 40-40-40 problem; an unfortunate legacy of apartheid where 40 percent of South Africans cannot afford housing, 40 percent spend 40 minutes travelling to work, and 40 percent of their income is spent on travelling.
Offering affordable housing closer to residents’ place of work will go a long way in addressing this.
Others have remained critical of this plan, pointing to developments like Century City in Cape Town and Tongaat in eThekwini which quickly became exclusive destinations for the rich, locking out the poor or even middle class from buying property.
South Africa still has a long way to go in addressing the country’s housing crisis.
Header image courtesy of Balwin Properties.