President Cyril Ramaphosa is expected to launch a housing project in the Northern Cape on Thursday which, when complete, is expected to deliver more than 4 000 housing units.

According to the Presidency, the project is expected to deliver some 4 168 houses, with at least 2 500 of those homes to be completed within the next year.

‘Working with National Treasury, the Northern Cape Provincial Government has sought a R600 million loan from the Development Bank of South Africa to supplement its baseline grant allocation for housing.

‘The housing units established in this project will address the pressing need for housing opportunities in the province, where approximately 162 informal settlements and nearly 80 000 households lack adequate housing.

‘Presently, 18 000 serviced stands across the province are prepared for the construction of housing structures,’ the Presidency said.

President Ramaphosa is expected to perform a sod-turning ceremony at a site.

‘This location will host fully subsidised houses and d
iverse housing opportunities, including First Home Finance and social housing,’ the Presidency said.

Source: South African Government News Agency