Serviced land for Swakop residents
A total of 120 erven has been serviced at extension nine in Vinetta and was launched in Swakopmund this week.
The development, which is set to benefit Swakopmund residents, comes after the implementation of a N$17 million infrastructural project.
The service of the land was executed by Orren Trading Enterprises, a Rehoboth based construction company and the electrical subcontractor, Consolidated Engineering Services in partnership with Buddy Esau, Jerry Claasen and Henry Orren and funded by the Old Mutual Midina Fund.
The project forms part of ongoing efforts to meet the demand for serviced land, mainly as a result of rapid rural-urban migration as well as seeing a substantial increase in the need for serviced land in the main urban centres of Namibia.
According to Levana Cloete, communications consultant of Old Mutual, the development project provided temporary employment to about 117 skilled and semi-skilled labourers over a period of nine months.
The developers also procured construction material predominantly, from businesses based at the coast.
“In line with its investment mandate to bridge the growing gap between the costs of servicing land, and the resources available, the Old Mutual Midina Fund invested in excess N$250 million to unlock urban land value through funding several projects projects,” Cloete said.