1. PROJECT NAME: ONGOS VALLEY
PROMOTER: Ongos Valley Development (Pty) LTD
LOCATION: Windhoek, Khomas Region
SECTOR: Real estate, housing
BRIEF DESCRPITION:
Namibia’s capital, Windhoek, is facing an influx of people from other parts of the country who are coming to the city in search of better economic opportunities. This population increase has created a backlog in housing projects and many residents are in need of decent affordable accommodation. Both the City of Windhoek and the Namibian government are encouraging Private Public Partnerships in housing provision. The Ongos Valley Project is an example of this approach, a private company that has come up with an initiative to provide affordable accommodation to Windhoek residents, with full support of the City of Windhoek and the government. Ongos Valley plans to deliver 30,000 housing units over a 20-year period. The fi rst phase of the project will run from 2019 to 2023 and will see 4,500 houses being delivered.
Ongos Valley Development (Pty) LTD has taken a holistic approach to the project. Ongos Valley will become a selfsustaining residential and commercial centre with schools, hospitals, institutions and support facilities. This approach means Ongos Valley residents will not have to travel to the other parts of the city for important social amenities. The project will also bring much needed infrastructure services to surrounding areas. The N$4.3 Billion project is also expected to stimulate the construction industry, which has faced a slowdown in construction activities due to the overall economic slowdown.
IMPACT: The Ongos Valley project will create over 14,000 jobs (4,140 full-time and 9,860 part-time) and will also stimulate the construction industry with the N$ 4.3 billion investment.
TOTAL INVESTMENT
N$ 4.3 Billion (US$308 Million)
IMPLEMENTATION PERIOD
Phase 1: 5 years (60 Months)
CONTACT DETAILS
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