Phase one of N$4.3 billion development to provide 4 500 housing units
WINDHOEK - Ongos Valley, the exciting N$4.3 billion housing development poised to change the face of Windhoek’s residential landscape, kicked off on Wednesday with a ground-breaking ceremony attended by Vice-President Nangolo Mbumba. The ceremony was conducted in the presence of various stakeholders in Namibia’s housing and land delivery market.
Located only a few kilometress from Windhoek’s central business district, Ongos Valley is slated to become a self-sustaining residential and commercial centre for civil servants, young professionals and other hardworking Namibians.
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 economy.
Ongos Valley aims to satisfy Namibia’s ever-growing and much publicised need for affordable housing. This will be achieved using efficient methods and processes as well as smart design solutions and planning expertise by some of Namibia’s leading construction professionals.
The promoter’s dream of providing affordable, good quality homes to a large portion of the Namibian population is a driving force behind the project. A project this size is only possible through the continued support from a number of key stakeholders. Nedbank Namibia’s Managing Director Lionel Matthews expressed his appreciation to the Ongos Valley development team for their belief in the bank’s ability to be the lead arranger for the project’s financing. The Development Bank of Namibia Managing Director, Martin Inkumbi, was also in attendance representing the primary financier for bulk infrastructure. 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. Having expertise in construction project costing and management, and with 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. Invited guests at the ground-breaking ceremony included Laura McLeod-Katjirua, Governor of the Khomas Region, Mayor of Windhoek Muezee Kazapua, Deputy Minister of Finance Natanguee Ithete, and Deputy Minister of Public Enterprises, Veiko Nekundi.
Staff Reporter
2019-08-16 08:15:26 | 3 months ago
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