Hangala Group sets sights on new commercial and retail investment, Namibia
Economist.com.na/ - Apr 23rd 2014, 11:29
With a mixed residential property valued at approximately N$60 million, the Hangala Group has set its sights on Otavi. The property will consist of general residential erven, a retail centre, a private hospital, a filling station, business and light industrial parks in conjunction with the Namibia Development Corporation, aimed at housing carpenters, plumbers and electricians, to mention but a few.
Hangala Group sets sights on Otavi with N$60 million investment
Dr Leake Hangala, Executive Chairperson of the Hangala Group said: “This has been one of the most challenging property developments undertaken by Hangala Group and its partners. For Otavi, it will never be the same anymore. We are not only creating much needed jobs during construction and thereafter but, and more importantly, enabling the town of Otavi to have the capacity of offering diversified services at a level equal to any other modern town anywhere in Namibia.”
The development is being carried out by PPH Otavi, a company owned by Hangala Properties and Gateway Properties, with Aurecon as project manager.
Added Hangala: “Every town has a Katutura, we do not want to replicate that in Otavi. The houses will be built from a middle to high standard to attract professionals. Otavi is developing into the country’s most modern industrial, agricultural and commercial centre. Of course, this should be a natural development because its geographic location provides a good setting for that.”
“This project has provided a combination of products and services to the customers, and that will enable Otavi, as one of the geographically best-located towns in our country, to plays its full role in the development of our economy,” said Lucas Boshoff, Managing Editor of Gateway Group.
Chief Executive Officer of the Otavi Town Council, Moses Matyayi voiced his satisfaction and said: “We are excited by the initiatives spearheaded by Hangala Group and its partners to invest in our town as they have responded positively to our invitation to join us in the development of Otavi. Since they approached us on this project, the developers have kept their word, and we would like to invite other potential investors to join Hangala Group and others to come and invest in Otavi.”
The project is expected to be completed by August 2014.
: From Economist.com.na
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