Ongos Valley a possible solution for affordable housing
WINDHOEK, AUG 15 – On Wednesday, 14 August 2019, His Excellency Dr. Nangolo Mbumba, Vice President of the Republic of Namibia officiated at the Ongos Valley project groundbreaking in the presence of various stakeholders involved in Namibia’s housing and land delivery market.
Ongos Valley is an exciting new housing development poised to change the face of Windhoek’s residential landscape. Located only a few kilometers from the CBD, Ongos Valley will become a self-sustaining residential and commercial centre for civil servants, young professionals and hardworking Namibians.
Invited guests included Hon. Laura Macleod-Katjirua, Governor: Khomas Region, His Worship, the Mayor of Windhoek, Cclr Muezee Kazapua, Deputy Minister of Finance, Hon. Natanguee Ithete and Deputy Minister of Public Enterprises, Hon. Veiko Nekundi.
Phase 1 will introduce over 4500 housing units and supporting infrastructure at a value of N$4.3 Billion. A first of its kind, this project will create over 10 000 employment opportunities over 10 years for skilled, semi-skilled and unskilled youth, a major boost for the local economy.
Ongos Valley aims to satisfy Namibia’s ever-growing and much publicized need for affordable housing. This will be achieved using efficient methods and processes as well as smart design solutions and planning expertise by some of Namibia’s leading construction professionals.
The promoter’s dream of providing affordable, good quality homes to a large portion of the Namibian population is a driving force behind the project.
A project this size is only possible through the continued support from a number of key stakeholders. Nedbank Namibia’s Managing Director, Lionel Matthews, expressed his appreciation to the Ongos Valley Development team for their belief in the bank’s ability to be lead arranger for the project’s financing.
The Development Bank of Namibia’s Managing Director, Mr. Martin Inkumbi was also in attendance representing the primary financier for bulk infrastructure.
Ongos Valley is spearheaded by Fullbright Investments, a Namibian infrastructure development firm that has successfully completed a number of low cost housing developments across the country. With expertise in construction project costing and management, and with the experience gained by working with government and statutory authorities places them in a unique position to deliver value for future homeowners in Ongos Valley. – NDN Staffer