WINDHOEK- Octagon (Pty) Ltd on behalf of its clients, the City of Windhoek, Champac Investments and Ariya Bridge Capital (Pty) Ltd held a ground breaking ceremony for Kleine Kuppe Extension 1 Phase 2B project on Wednesday.
The ceremony was attended by delegates from the entities stated above, together with the members of the media.
Amongst them was the chairperson of Champac, Ritta Khiba, Ben Biwa, the CEO of Aria Bridge Capital, Ndeulipula Hamutumwa who serves as Arid Bridge Capital chairman, Paulus Emmanuel, a councillor in the City of Windhoek and Maya Chipeio also delegated by the Municipality of Windhoek.
The main purpose of the event was to present the contributions made by the different stakeholders in implementing the project for Kleine Kuppe Extension 1 Phase 2B and to avail serviced residential erven in the aforementioned area in Windhoek.
Mayor of Windhoek Muesee Kazapua in a statement read on his behalf said there have been perceived difficulties and challenges which the project endured, in terms of the financial and technical problems, hence, he applauded Champac and Ariya Bridge Capital for their efforts, commitment, dedication and loyalty shown in implementing the said project. “I take note of the technical and financial challenges that the project has experienced and would like to express my appreciation to Champac and Ariya Bridge Capital for their respective contributions to implement the project, today’s groundbreaking is a much awaited event for another of our PPP projects which is an example of the long and productive partnerships between the council, developers, financiers and contractors in the City of Windhoek,’’ stated the mayor.
The mayor pointed out that one of the reasons why Windhoek’s economic potential is seen to be taking a snail’s pace is because of the low supply in serviced erven across all land-use categories. In order to resolve the challenge above, the City has resonated and came up with a conscious decision to form partnership with developers and financial providers and contractors in the City of Windhoek.
This decision was intended to overcome the challenge of the ever-growing population of Windhoek, in order to provide more services to the residents.
Hence, the City entered into public private partnerships (PPPs) joint ventures to address these issues. The signed agreement between the PPPs and Champac is seen as one of the PPPs’ projects, and the area allocated to Champac which will be undergoing the servicing in Kleine Kuppe Extension 1, Phase 2, will provide 88 single residential erven with 12 general residential erven for sectional title development in 2020.
2019-12-06 08:09:17 | 3 months ago