Nedbank assists real estate development
Windhoek’s real estate landscape with the help of Nedbank Namibia, is getting a much needed shot in the arm through the Ongos Valley development.
Nedbank is the lead arranger for phase one of the project, with 1 800 hectares of land having been acquired on the northwestern outskirts of Windhoek 14km from the central business district.
The Bank approved a N$220 million facility, joining other financing institutions like the Development Bank of Namibia, which provided infrastructure development facilities of N$450 million.
The overall investment in phase one amounts to N$4,3 billion. Ultimately, 16 000 jobs could be created, as 28 000 units will be built in seven phases over the next 25 years with schools, a shopping mall and associated businesses forming part of the overall vision for the project.
