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77 on Independence on target

Vetumbuavi Mungunda (left), the Chief Executive Officer of Standard Bank Namibia, Sven Thieme (middle), Executive Chairman of the O&L Group and Berthold Mukuahima, Executive Director Human Resources at the O&L Group (Photograph by Ogone Tlhage)

The development of an upmarket apartment and shopping complex on the fringes of Windhoek’s central business district, is on target and should be completed by the end of 2016.

This was revealed this week when joint developers Demushuwa Property Developers, the O&L Group and financiers Standard Bank Namibia, introduced the project to the public.
The property which is located on erf 77 on Independence Avenue was seen, as O&L Executive Chairman Sven Thieme described, as a perfect investment opportunity. “The vision of 77 on Independence started as far back as mid-2011. This development is ideally situated in the heart of Windhoek and is a perfect investment opportunity.” When quizzed during a Q&A session Thieme jokingly described 77 on Independence as a normal place for special people.
Desmond Howard of Demushuwa described the project as tough to get off the ground. “We had to approach O&L to kick-start the project. We initially went through two sets of design.”
The construction of a ramp leading into the shopping centre and apartment complex that will connect to Independence Avenue has been completed with further plans to construct another ramp connecting to Sam Nujoma Avenue on the northern side of the complex.
The site visitors comprising members of the media, employees of Standard Bank and of O&L were led to a completed segment of the first basement level, with the completed ramp in clear sight. Upon completion, 77 on Independence will offer its residents and shoppers 193 parking bays while the total letable area equates to 1494.95 square metres.
According to Howard, tenants were quick to snap up the residential units during the first and second phases of selling. The residential units consist of 164 units, comprising 11 one bedroom units, 143 two bedroom units and 10 three bedroom units. 77 on Independence will also be home to a 226 square metre gymnasium and fitness centre.

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