New housing development poised to change the face of Windhoek’s residential landscape – Phase 1 valued at N$4.3 billion
The Vice President, HE Dr. Nangolo Mbumba this week officiated at the Ongos Valley project groundbreaking ceremony in the presence of various stakeholders involved in the housing and land delivery market.
Ongos Valley is an exciting new housing development poised to change the face of Windhoek’s residential landscape, according to a statement.
Located only a few kilometres from the CBD, Ongos Valley will become a self-sustaining residential and commercial centre for civil servants and young professionals.
Phase 1 of Ongos Valley will introduce over 4500 housing units and supporting infrastructure at a value of N$4.3 billion, the statement said, as it further highlighted that the project is a first of its kind, and expects to create over 10,000 employment opportunities over 10 years for skilled, semi-skilled and unskilled youth, a major boost for the local economy.
Ongos Valley aims to satisfy the ever-growing and much publicized need for affordable housing and this will be achieved using efficient methods and processes as well as smart design solutions and planning expertise by some of Namibia’s leading construction professionals, the statement added.
Nedbank Namibia’s Managing Director, Lionel Matthews, expressed his appreciation to the Ongos Valley Development team for their belief in the bank’s ability to be lead arranger for the project’s financing.
The Development Bank of Namibia’s Managing Director, Martin Inkumbi was also in attendance representing the primary financier for bulk infrastructure.
Ongos Valley is spearheaded by Fullbright Investments, a local infrastructure development firm that has successfully completed a number of low cost housing developments across the country.
With expertise in construction project costing and management, and with the experience gained by working with government and statutory authorities places them in a unique position to deliver value for future homeowners in Ongos Valley, the statement added.
Caption: The Vice President, HE Dr. Nangolo Mbumba and the invited guests who included Hon. Laura Macleod-Katjirua, Governor: Khomas Region, His Worship, the Mayor of Windhoek, Cclr Muezee Kazapua, Deputy Minister of Finance, Hon. Natanguee Ithete and Deputy Minister of Public Enterprises, Hon. Veiko Nekundi.