N$4.3 bln Ongos Valley Project answer for Windhoek’s growing population
WINDHOEK – With Windhoek’s annual urbanisation rate currently at about four percent, the N$4.3 billion housing development of the Ongos Valley Project intends to make a significant contribution to the capital city’s population, which is expected to exceed 645 000 people by 2030.
The Ongos Valley Project, which is slated to become a self-sustaining residential and commercial centre for civil servants, young professionals and hardworking Namibians, aims to provide over 30 000 housing units when it is completed during the next five years.
“The developers have informed me that Ongos Valley is a unique development project on 1 743 hectares of land, which will change the face of Windhoek’s residential landscape by providing a feasible housing solution to the ever-growing urban population. In this regard, the Ongos Valley site will be sub-divided and serviced into affordable, residential-sized plots, spread across the various demand segments in order to ultimately create a self-contained suburb of Windhoek,” said Vice President Nangolo Mbumba last week during the ground breaking ceremony for the project.
Phase one of Ongos Valley is expected to introduce over 4 500 housing units and supporting infrastructure at a value of N$4.3 billion. A first of its kind, this project is projected to create over 10 000 employment opportunities over 10 years for skilled, semi-skilled and unskilled youth – a major boost for the local economy.
Ongos Valley is spearheaded by Fullbright Investments, a Namibian infrastructure development firm that has successfully completed a number of low-cost housing developments across the country. Expertise in construction project costing and management, and the experience gained by working with government and statutory authorities places them in a unique position to deliver value for future homeowners in Ongos Valley.
Over the long-term, approximately 7 000 people are expected to be permanently employed in the project, 5 250 of which some are expected to be previously disadvantaged Namibians. The project is also envisions to boost the local economy with a capital investment injection of over N$3.7 billion through local procurement of goods and services.
“I am convinced that with the right mindset, an evidence-based approach, strong mental and will-power, and a sense of urgency, we as Namibians can together (government, private sector and communities), solve the urban housing problem within the not so distant future. It is possible and doable,” said Mbumba.
2019-08-19 07:44:05 | 9 months ago