21 Jun The GPF targets township real estate with #Kasi4Real Programme
The Gauteng Partnership Fund (GPF) has launched its latest innovative product, Kasi 4 Real, which seeks to address housing shortages and to formalise backyard developments in township areas within the jurisdiction of the Gauteng province.
Kasi 4 Real is aimed at providing funding to Gauteng township-based property owners who have minimal knowledge of the property sector. As part of the programme offerings, the GPF will provide prospective developers with insights into the property management and development space by providing an 8-week short course which will equip the developers/applicants and enable them to manage the properties on their own once the GPF loan facility has been settled.
The GPF will be entering the market to directly fund potential township developers for residential township (backyard) developments. This would entail at least a 97% investment for each development in the township areas.
Palesa Ramokone, a Project Analyst at the Gauteng Partnership Fund gave an overview of the newly launched Kasi 4 Real programme to attendees at the inaugural Township Economies Conference & Expo, Ekurhuleni.
The Kasi 4 Real product aims to resolve the following challenges:
The township real estate market remains very informal, and its economic impact is not measured, with no credit history.
- Historically disadvantaged individuals (HDIs) do not participate in the full value chain of real estate development life cycle, i.e., property management and maintenance, construction material supply and property development.
- Gauteng remains a melting pot where job seekers from other provinces are not looking for permanent residency in the province as they are looking for job opportunities.
- Access to finance for property development.
- Municipal revenues continue to dwindle as housing upgrades are done without municipal approvals leading to non-payment of municipal services and overload of infrastructure resulting in poor essential service delivery.
Ntombenhle Gwina, a Marketing, Communications and Stakeholder Manager at Gauteng Partnership Fund speaking with an attendee at the inaugural Township Economies Conference & Expo visited the Gauteng Partnership Fund stand.
The Kasi 4 Real programme is aimed at providing funding to the following market:
- Residents of any township within the jurisdiction of Gauteng.
- Residents from the township who are registered in the title deed.
- Residents who own land in the township and have space to build additional units in their backyard to develop affordable rental accommodation.
- The legally appointed executor of the property.
Interested parties can email: email@example.com / firstname.lastname@example.org or call Palesa Ramokone on 082 970 7806.