Housing in Southern Africa March 2015

Housing

Inkanyezi on KZN’s north coast

W ith the growing demand for well-located affordable housing, Inkanyezi will pro- vide a mix of housing typologies including sectional title units, free- hold, Gap market housing, as well as Finance Linked Individual Subsidy Program housing (FLISP) for house- holders earning up to R15 000 per month as determined by the FLISP subsidy parameters. The project will roll out over 2 243 housing opportuni- ties on completion, whichwill include housing across the Affordable income range. According to Manie Annandale, Head of Affordable Housing Develop- ment, Nedbank Corporate Property Finance, “The developer, Zevoli 208 and the project management team, the Shield Group, have firmly estab- lished themselves in the affordable housing market in the Eastern Cape and KwaZulu-Natal for delivering quality housing. Nedbank’s previous experience with them in Durban and Port Elizabeth support their track re- cord. Shield Homes, a division of the Shield Group, will roll out 327 general

Nedbank Affordable Housing Development Finance has providedR28,3million to developer, Zevoli 208, to roll out bulk infrastructure for Inkanyezi at Tongaat on KwaZulu-Natal’s north coast sugar belt.

Shaka International Airport, the Dube Tradeport, a light industrial economic node and Tongaat’s Central Business District, which will all be accessible to Inkanyezi residents. There are a number of amenities in the surround- ing areas, and Inkanyezi has plans for three parks and recreation facilites, a crèche, shopping centre, taxi rank, a multi-use sports field and two new schools. Inkanyezi will compliment and integrate with Gandhi’s Hill and Hambanati. The area is also within close proximity to industrial parks for job opportunities.” It is these details that make the development attractive to newhome owners. Road access is currently off Van Rova Road and the development will also have access to the existing Main Road R102 and the N2 high- way. The development is located on

residential affordable housing units and 77 freehold stands during Phase One.” Shield Homes’ market research has shown that 80% of prospective buyers in the area work for govern- ment. A two bedroom sectional title unit costs from R430 000, two bedroom free standing house from R525 000 and a three bedroom from R595 000 including bond and transfer costs. Buyers will have a selection of finishes to choose from such as tiles, carpets, kitchen and colour finishes. The development will be rolled out in eight phases. “With the scarcity and expense of available bulk infrastructure (elec- tricity, water and sewage) there is a shortage of affordable housing stock in the region. Inkanyezi is well locat- ed within close proximity of the King

March 2015