Author: James Wilson
CEO of the Amdec Group
16 October 2020
AMDEC COMMITS TO AFFORDABLE HOUSING WITH GOLDEN GROVE ESTATE
A new 1000-unit affordable housing development comprising of three different unit sizes was launched by the Amdec Group last month on 11 hectares of land in Ottery, Cape Town.
On target to deliver one-bedroom 24m2 units, two-bedroom 36m2 units and three-bedroom 54m2 rental units, Golden Grove Estate is targeted at families with a maximum monthly income of R22 000 per month.
“It does my heart good to visit this development and see, during COVID-19, that the economy of Cape Town is still going strong. I wish you and your development well. You guys have a partner in the City of Cape Town” commented Cape Town’s executive Mayor, Alderman Dan Plato.
“We want to keep investing in South Africa and we want to deliver, on this particular site, 1 000 affordable houses for families from previously disadvantaged groups. We want to show other developers that we are absolutely committed to social justice, and we want to encourage them to follow suit and reinvest in our country” says James Wilson, CEO of the Amdec Group.
Golden Grove Estate is aimed at addressing the need for affordable housing for the ‘missing middle’ – those individuals who earn more than the minimum to qualify for government-subsidised housing but too little to qualify for a bank bond and the Amdec Group will be putting all their skills and resources to use in the affordable property segment going forward.
“There is an obligation on all of us to try and improve the lot of those people who don’t have access to housing – where they can bring up their children safely and securely, and with dignity,” said Wilson.
“Golden Grove Estate will be developed using exactly the same professional team, exactly the same management team, exactly the same diligence and level of focus and expertise to ensure we deliver a fantastic product. And I think we will all come back to this site in two years’ time and be pleased with how magnificent Golden Grove Estate is and what a wonderful example of affordable housing it has proven to be.”
According to AfricaCheck statistics from 2018, more than 2.2 million South African households are still residing in ‘makeshift’ structures not erected according to approved architectural plans like shacks or shanties in informal settlements or in backyards. This figure excludes serviced plots of land and hostels that are sorely in need of upgrades.
The demand for housing continues to grow in South Africa and government has historically been unable to meet this demand. Alderman Plato expressed pleasure at the private sector stepping up and playing its part in developing affordable housing sites that also include much-need recreational spaces for young families.
The Amdec Group is not new to the affordable housing sector. In 2007, it acquired thirteen vacant office buildings in Doornfontein, Johannesburg and redeveloped these to create a mixed-use precinct that provided affordable homes for 1 500 families (approximately 6 000 people).
“We are 100% committed to affordable housing and it is our intention to grow a large division within our company, which is focused single-mindedly on the delivery of this type of accommodation. Watch this space. It is going to be a very large component of our business as time goes by,” concludes Wilson.
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