SA Affordable Housing July - August 2019 // Issue: 77 | Page 26

PROJECTS
Changing the face of
affordable housing in SA
South Africans have been waiting with bated breath for the past 18
months for the outcome of the national elections, which took its toll
on the property market as it adopted a wait-and-see approach.
By Cosmopolitan Projects | All photos by Cosmopolitan Projects
Cosmopolitan Projects has already delivered 2 000 of 17 000 affordable housing units at Sky City.
W
ith the sixth democratic general elections now
successfully behind us, Cosmopolitan Projects –
like the rest of the country – is positive and excited
about the future.
Anton Crouse, managing director of Cosmopolitan
Projects and Central Developments Property Group, says
that the stage is set for the industry to prosper again and
that Cosmopolitan Projects is ready to invest billions in the
delivery of affordable housing. He adds that with a fairly
positive outlook on GDP numbers over the next two to three
years and President Cyril Ramaphosa firmly committed to
good governance and growing the economy, the only thing
that is still needed to truly stimulate the industry, is a cut in
interest rates.
After years of preparation, Cosmopolitan Projects now
has six mega developments comprising 45 000 units lined
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JULY - AUGUST 2019
up to deliver affordable housing throughout Gauteng over
the next 10 years. These developments are situated in Lotus
Gardens (Pretoria West); Sammy Marks (Pretoria East);
Rosslyn (Pretoria North); Protea Glen (Soweto); Lion Park
(Johannesburg North); and Sky City, Alberton (Ekurhuleni),
which is already well under way.
Ultimately comprising 17 000 units, Sky City is the
largest privately funded affordable housing development in
South Africa. Since September 2017 Cosmopolitan has
delivered 2 000 homes at Sky City and the total residential
project will be completed in phases over the next eight to
10 years at a value of about R10-billion.
MORE THAN JUST HOUSING
With its shift to mega developments, Cosmopolitan
Projects’ approach has evolved into one of holistic property
www.saaffordablehousing.co.za