Oryx Properties and Trustco Properties break ground for new Urban Village
WINDHOEK – The development of a shopping centre at Elisenheim Village Estate is expected to create more than 300 jobs over the next 10 months and more than 200 permanent employment opportunities once the centre reaches capacity. This venture, between Trustco Properties, the property development and subsidiary of Trustco Group Holdings, in conjunction with Oryx Properties Ltd, both listed and Namibian-owned property loan stock companies, is aptly named the Urban Village.
Officiating at yesterday’s ground-breaking ceremony, Minister of Industrialisation, Trade and SME Development, Tjekero Tweya, commended the two entities for their investment, saying this development will undoubtedly inject impetus in the economy. However, Tweya encouraged the companies to decentralise their investments. “I would like to commend you for the breakthrough investments you, as local investors, brought about in this beautiful country we all love. However, your investments are centred in Windhoek and the Khomas Region only. I would like you to be mindful that the 2.4 million Namibians are not based in Khomas only; our people are spread across all 14 regions of the country and for Oryx Properties to make greater impact with much bigger investor returns, my advice as a politician to you is that you equally consider investments in other parts of the country as well to establish a bigger footprint of your brand nationally, ensuring that your business strategy is fully-aligned with our Harambee Prosperity Plan calling upon all of us, in the private and the public sector, to ensure that no-one should feel left out from the broader development of Namibia,” said Tweya.
The new Urban Village centre will be implemented in three phases, of which the first phase, valued at an estimated N$110 million, is expected to be completed by February 2020. This first phase of the village has been designed to accommodate over 15 units, among those a premium grocery outlet – Spar.
Residents of Elisenheim estate and the surrounding area can enjoy a 2 000m2 store that will also include a Tops liquor outlet. Other outlets will include a coffee shop, pharmacy, restaurant, hairdresser, laundry service, post boxes, car wash, and various ATMs as well as a health and fitness facility.
The overall design of the Urban Village utilised the natural setting at the core of its design. Many of the existing indigenous trees will be incorporated into the aesthetics of the mall, embodying the overall natural theme of the estate. This retail development will add an exciting element of convenience to the residents of Elisenheim. Provision has been made to further expand the centre in future; this will link hand-in-hand with the development of various phases of the residential property development.
Elisenheim Village Estate is poised to become a beautifully natural utopia that will include a crèche, nursery, medical facility, veterinary services and prestigious villas in the near future.
In addition, the development is ideally situated for the approximately 4 000 residents of Elisenheim and will cater to the local Namibian business and lifestyle sphere. As a complementary drive to boost entrepreneurship in Namibia, local outlets are encouraged to apply for a retail space within the Urban Village, which is also in line with the group’s approach to growing the Namibian economy, one Namibian entrepreneur at a time. “This exciting development speaks to the development philosophy of Elisenheim as a natural, earthy, lifestyle estate and will incorporate the use of modern architecture, natural building elements and outdoor activation to ensure that patrons will visit the centre again and again for an enjoyable experience,” stated Petro Oberholster, Property administrator for Oryx Properties.
Addressing the attendees and media at the official ground-breaking, the head of Trustco’s insurance and investments segment, Marco Erasmus, stated: “This new development at Elisenheim will greatly enhance the living environment of our residents and add value to the overall development of this lifestyle estate.”
2019-06-06 09:38:45 20 days ago