PROPERTY: A Far Kraai From Gauteng
Recent Western Cape Business News
GAUTENG-based low-cost property developer Calgro M3 has burst onto the Western Cape property development market by announcing a sprawling R554 million development in Kraaifontein.
Last month Calgro revealed plans for its Scottsdene four-year 2 200 mixed unit integrated housing project – only the second project the company has tackled outside its traditional Gauteng market.
The project comprises 1 100 social housing and rental units; 340 community residential units (subsidised rental units owned by the City of Cape Town, 550 RDP units and 210 freehold affordable housing units (ranging in price between R250 000 and R450 000).
It appears the Scottsdene development in Kraaifontein development is but a beach-head for Calgro. The company has opened a permanent office in Plattekloof, and – perhaps more significantly – appointed a divisional director.
Calgro executive director Derek Steyn believes that Scottsdene is just the start for the group’s Western Cape ventures. He has indicated that a number of other opportunities are in the final stages of negotiation.
Construction on the project will begin this year.
Steyn reckons Calgro’s in-house expertise in property development and construction allowed the company to deliver quality lower cost housing. “It makes Calgro a suitable Private-Public Partnership candidate…which is essential in helping government to address the current housing backlog,” he says.
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