10 Billion Housing development near Rosslyn, Pretoria
Category Industrial Property News
Although many urban areas within South Africa are seen to have 1st world infrastructure, it is still a 3rd world country. With the gap between rich and poor being one of the highest in the world with the issue of housing still being a contentious one amongst many South Africans who live under the breadline.
Although there is still a long way to go before there is enough adequate housing for the greater community of South Africa. There are certain projects in place that help in combating this pertinent issue. One such project that is currently taking place near Rama City in Rosslyn is set to see a major housing development for the area, which will undeniably raise its profile as a favorable place for both residential, commercial and industrial purposes.
“Premier David Makhura on Thursday launched a R10 billion integrated housing development in Rama City near Rosslyn Industrial area. He remarked that the project would revive hopes for the locals to have a vibrant economy and more jobs. Makhura, who spoke to the community at a ceremony officially launching the project, said the development would be funded through private investment”. – Rapula Moatshe iol.co.za.
According to leading industrial property brokerage API Property Group, Rosslyn is a highly favorable area for industrial reasons. These experts in industrial property have 54 listed available warehouses and locations for rental in Rosslyn, Pretoria and believe that this will increase over the next few years, largely due to projects such as this.
The development will be taking place on former farmlands and is said to build 17. This comes on the back foot of a housing spike nationwide. This is according to The Herald newspaper. “Activity in the new housing sector boomed in the Eastern Cape and nationally in January, with the number of approved building plans increasing by 37% nationally and more than 1 200% in the Eastern Cape. This is according to the latest Absa Residential Building Statistics, which is supported by data from Statistics South Africa (Stats SA). It also showed that along with the 37% year-on-year increase, the number of newbuild housing units completed during the same period rose by 23%”. – Shaun Gilman (hearldlive.co.za).
This is a clear indication of the rise in the need for property. API Industrial Property Brokerage believes that rises in residential property will only ensure that there is a rise in the demand for residential property as well. “An increase in housing developments and consumers wishing to buy residential property will only help in developing the need for industrial property as well, as people move into areas closer to their place of work” – Stepanus Weyers Principal and Director of API Industrial Property Brokerage.
With the local government taking into consideration the needs of ordinary people. It would seem it’s a given that the profile of areas like Rosslyn will increase over the next few years as the housing demand is met. This will only have positive spin-offs for people who need housing but also those who wish to live closer to their places of work. This will only have a positive impact on the local industries running out of still developing areas. It would seem it’s a great time to invest. Get in contact with an API Industrial broker today and start your next industrial operation out of Rosslyn.
Author: API Property Group