Steelpoort experiences major boom
Its assets comprise income-yielding properties and developments complemented by a secured pipeline of around R3 billion of commercial property developments and R7 billion residential rental and sale property developments, as well as a long-term development pipeline in decentralised areas throughout South Africa.”
LYDENBURG – While the rest of South Africa still fears the effect of a second economic downturn since 2008, the latest estimations show a housing need of around 20 000 units at present. This demand spans the entire economic spectrum.
Currently riding the crest is income-producing properties developing group, Freedom Property Fund. It has just commenced on its next phase of the development of the Steelpoort Industrial Park, offering more than a dozen new units. In Burgersfort, Freedom has also commenced with the development of the sizeable Tubatse Resident Estate, which will include a mix of 3 700 residential units with a variation of housing options and communal facilities.
Tyrone Govender, CEO of Freedom Property Fund, said there isa tremendous demand for accommodation in this area. “The thriving local economy is experiencing significant growth resulting from the investment from the majority of mining corporations over the past few years, as well as the increased activity in the retail sector by the likes of Redefine and Resilient which responded to this.”
The estimated need for housing for mine employees
The Tubatse Residential Estate is a natural extension of the town that will create a quality residential community comprising around 2 000 full-title units that average about 220 square metres and 1 700 sectional title units with the average size of 76 square metres each.
Freedom listed on the JSE Main Board on June 12,2014, introducing unique property capital growth opportunity for investors, coming from the fund’s diverse and growing portfolio, which includes residential, commercial and industrial property assets of R1,56 billion. “While our listing provides shareholders with the prospect of participating in a diverse portfolio of property assets, our strong weighting in the high-demand residential property development has attracted lots of attention.”
Its assets comprise income-yielding properties and developments complemented by a secured pipeline of around R3 billion of commercial property developments and R7 billion residential rental and sale property developments, as well as a long-term development pipeline in decentralised areas throughout South Africa.”
