The R30 billion infrastructure development project is the outcome of a public-private partnership between Balwin Properties, the Gauteng provincial government, and the City of Tshwane.
PRETORIA – President Cyril Ramaphosa on Sunday said his administration was now focusing on implementation.
Ramaphosa was speaking during the launch of the Mooikloof Mega Residential City project in Pretoria.
The R30 billion infrastructure development project is situated east of the capital. It is the outcome of a public-private partnership between Balwin Properties, the Gauteng provincial government, and the City of Tshwane.
Once completed the project would have about 50,000 apartments.
“Once completed, the Mooikloof Mega City may end up becoming the world’s largest sectional property development, with land also earmarked for schools, shops and offices,” Ramaphosa said.
“It is pleasing to note the development is being pursued in line with green building principles, and will make optimal use of green belts and green spaces for residential recreation.”
The president said he was grateful to launch the development, saying it was something that would help push back against apartheid design that relegated many people to the periphery.
“While a minority lived in comfort and security with access to centers of commercial activity, the black majority were confined to townships that served as labour reserves. In the rural parts of our country this was even worse, with the under-developed Bantustans existing alongside more affluent so-called white South Africa,” the president said.
He added: “We continue to feel the effects of apartheid spatial design in what may be termed the 40/40/40 principle.
“This means that most people are housed 40 kilometers from employment opportunities, as a result, they spend over 40 minutes travelling to and from work, and spend over 40% of their incomes on transport expenses. In many cases those affected are the poor who live in 40m2 houses.”
The president said the project was a ray of sunshine in an otherwise gloomy climate, and it demonstrated the strength of public- private partnerships.
“The success of any future mega housing development rests with public/private sector collaboration. Private sector resources and expertise will aid government’s efforts to meet the housing demand. The public sector can incentivise further investment by providing the necessary bulk infrastructure to enable development,” Ramaphosa said.
“It is this approach that has made it possible for this development to take off.”
Once completed, the apartments would sell between R500,000 and R800,000, focusing on state employees.