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Looking for a new apartment? – Pretoria’s R84 billion mega city units could be available in 2023
The mega city may end up becoming 'the world’s largest sectional property development'.
Picture: iStock
If you are currently looking for a new place to stay, maybe hold out a little longer because the Mooikloof Mega City’s first residential apartments could be available later in the year.
President Cyril Ramaphosa announced the Mooikloof Mega City development in 2020 as part of government’s strategic integrated projects.
Ramaphosa, at the time, indicated that the development, valued at a total of over R84 billion, will include a massive smart city project located in the east of Pretoria, Gauteng.
He said the mega city may end up becoming “the world’s largest sectional property development”.
Apartments
The mega city, which is a public-private sector project between government and developers Balwin Properties, spans over 200 hectares and will have more than 50 000 residential units as well as retail shops and offices.
It will also offer lifestyle services such as outdoor gyms and sports facilities that have previously been inaccessible to those in lower-income groups.
Balwin’s residential side of the development was touted to be valued at between R30 billion and R44 billion, and will be developed in phases over several years.
According to the Department of Human Settlements, the first phase of the project is already well underway.
Human Settlements Minister, Mmamoloko Kubayi has revealed that just over 500 units could be ready for occupation in September.
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The apartments will cost R604 900.
“The developer initially projected that the apartments in the development would start selling between R495 799 and R 799 00.00. However, the apartment starting prices now commence at R604 900,” Kubayi said.
The city will be constructed in line with green building principles.
“The green classification for the Mooikloof Mega City will be done when the construction of the units is completed and will be certified for solar and battery storage to confirm that it has been incorporated into the development to mitigate the effects of load shedding.”
Jobs and infrastructure
The project is expected to create around 41 000 jobs, according to the Knight Fank Wealth Report for 2022.
The government has planned to invest R1.4 billion in bulk infrastructure to unlock the Mooikloof development.
This includes the expansion of the Garsfontein provincial road, which runs adjacent to the site.
The Mooikloof development will make a big contribution to inclusionary housing in South Africa, helping to address spatial integration, according to Ramaphosa.
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