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Construction of a landmark affordable housing project at Bridge City is due to start within weeks, marking another step toward realising the development’s bold vision.
There can be no arguing against the fact that the provision of affordable housing is a vital component of the social transformation and empowerment efforts of local and national governments across South Africa.
Property Finance at Nedbank Corporate and Investment Banking (CIB) delivered another year of strong performance, making a significant contribution to the annual results of both CIB and Nedbank Group as a whole in 2016.
Increasing the height of buildings and dividing developments into smaller units could help address the lack of affordable housing in Cape Town's CBD.
Calgro M3, which develops affordable housing with the government, sees group revenue rise 25.7% to R720m in the interim period to August.
Recent studies suggest that while the demand for affordable housing is on the rise, affordability remains a barrier for millions of South Africans in this segment, resulting in renting increasingly becoming a more feasible option than buying.
Nedbank Corporate Property Finance is the market leader in the commercial property finance industry.
While there has been an increase in the volume of land coming on stream for affordable housing developments over the last few years, there are a number of challenges that need to be overcome in order to sustain this trend.
Investors are lining up for a share of sub-Saharan Africa's booming affordable housing market, with global private equity investor, International Housing Solutions' second fund attracting an impressive R1.5-billion.