Gauteng Funding launches Kasi4Real in Pimville
The project is formed to address the social housing backlog and aimed at growing township economy by creating rental businesses in people’s backyards.
MEC for Human Settlements and Infrastructure Development, Lebogang Maile officially launched the Kasi4Real housing programme for the residents of Soweto on February 23, at Grace Bible Church, Pimville.
Kasi4Real is a new product introduced by the Gauteng Partnership Fund (GPF) in order to address housing shortage and formalise backyard developments in townships.
This pioneering programme marks the government’s direct entry into funding potential township developers aimed at creating sustainable, dignified living spaces while addressing the demand for affordable housing.
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Addressing the media GPF CEO, Lindiwe Kwele said Kasi4real is an exciting initiative from the GPF that is aimed at ensuring that township property developers are sufficiently equipped to run and manage their backroom businesses.
“As the GPF we really felt that this is the opportunity to move into the township economy and look at how we can best contribute to the local economic development by using our existence as a developmental finances institution,” Said Kwale.
Kwale added that in order to generate wealth for future generations, the GPF is urging any residents of Gauteng who are considering a career in real estate to seize this chance.
MEC Maille said the project is formed to address the social housing backlog and aimed at growing the township economy by creating rental businesses in people’s backyards.
“The funding comes in a form of a loan, where homeowners with title deeds are assisted to build decent and affordable rental units on their properties and formalise backyard developments. This initiative is also an attempt to get rid of shacks and promote decent living for residents,” said Maile.
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MEC Maile added that in order to qualify for funding, one needs to be a township resident in Gauteng and be in possession of a title deed.
They must also have adequate building space which can accommodate a minimum of four units that are not smaller than 15m2.
These new age backrooms must have a bathroom with a shower, and a small kitchen. Lease agreements will also be provide to protect both tenant and landlords.
