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 kilometres from Windhoek’s CBD, 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 MD 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.https://allafrica.com/stories/201908280601.html
