Ongos Valley Development says it plans to expand its operations across the Southern African Development Community (SADC) region.
The real estate developer signed a Memorandum of Understanding (MoU) with the Zambian government to begin the construction of 2,000 houses in the next 18 to 24 months.
Ongos Valley spokesperson Abed Erastus said the partnership with the Zambian government is the first step in the company’s plans to expand within the region.
“The MoU creates a framework for us to work within Zambia and it’s a first step towards our ambition to deliver solutions across SADC,” he said.
He further explained that Zambia, like Namibia and other African nations, grapples with a significant housing deficit estimated at 1.5 million units.
“Zambia, like Namibia and other African nations, faces significant challenges in delivering housing at scale. This MoU establishes a framework that allows us to collaborate in developing tailored solutions that address their unique needs and challenges,” Erastus said.
Zambia has set an ambitious target of constructing 200,000 houses annually to bridge the housing gap. While the project is anticipated to take between 18 to 24 months to complete, Erastus cautioned that specific timelines and project costs are still subject to change due to ongoing development stages.
Meanwhile, Ongos Valley Development has invested N$900 million into the housing project’s first phase of development in Windhoek.
Additionally, the project commissioned the expansion of the Peter Nanyemba Road into a dual-carriageway at a cost of N$381 million last April. The expansion is expected to be completed by the end of the year.
Ongos Valley is situated on a 1,750-hectare portion of Farm Ongos, 13 kilometres from the Windhoek city centre. It will be a self-contained green village area with schools, hospitals, police stations and a cemetery, among other services.
