Ramaphosa lauds Balwin s mega city ’

Projects such as the Mooikloof Mega City in Pretoria, the biggest sectional title development in SA’s history, will create thousands of jobs and show that the country is serious about meeting its infrastructure ambitions, says President Cyril Ramaphosa.

The Mooikloof Mega City is a public-private partnership and it is expected to be worth about R84bn, Ramaphosa said at the launch on Sunday.

The residential section is JSElisted Balwin Properties’ biggest housing project to date and it is projected to be worth R44bn when it is completed in about 2030. It will include up to 50,000 houses.

Ramaphosa said that this and other expected housing and infrastructure projects could encourage new developers to come to the party in SA’s economic recovery.

Under pressure to revive an economy that is set to shrink the most since at least the Great

Depression, Ramaphosa has placed infrastructure at the heart of his recovery strategy.

“This is when investors see that South Africans are serious. They are serious about their future. They are serious about where they want to go, and investors then are attracted. They come like moths come to the light,” Rampahosa said.

The residential section will generate 115,000 job opportunities through its construction, and comes just after last week’s Stats SA revelation of the loss of 2.2million jobs in the second quarter with the national lockdown to curb the spread of Covid-19.

Public works & infrastructure minister Patricia de Lille said that Mooikloof Mega City and other projects were part of the state’s economic recovery plan, which “would be released in coming days”.

Mooikloof Mega City has been designed specifically for the gap housing market.

This market can be defined as housing opportunities for people with a combined monthly income of R3,501 to R18,000, in other words those who earn too much to get a free house from the government but too little to qualify for a bank bond.

INVESTORS SEE THAT SOUTH AFRICANS ARE SERIOUS ABOUT THEIR FUTURE ... ABOUT WHERE THEY WANT TO GO