Govt breaks ground on Mooikloof megacity development
Government is planning to use big building projects to re-ignite the economy.
Mooikloof Megacity residential complex in Pretoria will give low-income earners access to housing.
The R30-billion initiative will also create 41,000 jobs. This project is meant to reverse apartheid town planning.
Balwin Properties CEO, Steve Brookes said, “out of everything bad in history something good comes and we’ve got 50,000 apartments for previously disadvantaged peoples, right in the heart of Mooikloof, in a wealthy upmarket suburb.”
Perhaps more importantly, it could kickstart the economy.
President Cyril Ramaphosa said, “the emphasis, of course, will be on these types of infrastructure projects, to be spread across the country, so that they become the mini fly-wheels of the economic recovery that we want because they are a great job creator.”
The President’s office is leading the project, signalling the new approach.
Presidency Investments and Infrastructure head, Kgosientso Ramokgopa said, “we know that COVID has decimated whatever was left of the fiscal headspace, so we need to financially engineer this project. To allow for private-sector money to be exploited to provide accommodation for low-income housing.”
Read the full story on: eNCA.