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Nedbank assists real estate development

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.


 

About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys

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