PROJECT DEVELOPMENT PLAN

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This skilled and experienced team will ensure that Povicom realises its objectives and enjoys expansion.  The    company’s long-term plan is to build 500 units over the next five years to benefit the most vulnerable. The proposed 4000 square meter property to be developed as social housing project is situated on ERF No: CA 787-23, Regent Street, Weltevreden Valley, Mitchells Plain.  Close to transport nodes, shopping facilities and schools, nestled between two established residential complexes. 

 The company has a long-standing relationship with Clarence Builders, a results-driven and reputable company registered with the NHBRC. The first 104 units will be built in one phase with the balance of 396 units over 5 years.  Povicom believes in building homes to positively promote family and community growth, this is evident in the development, tenant and maintenance plans.  

Please see below a drawing of the proposed development and attached are the architectural plans of the 36 and 42 square meter units, including an aerial view of the site.
The development programme of Povicom will realize the delivery of two projects of approximately 104 per project over the coming 2 years and the planning for a third project in a similar location for approximately 396 unit. Its development partner, Prospur Real Estate (Pty) Ltd is geared up for the development programme and a firm SLA has been concluded between the two entities to ensure that the delivery targets are met. The project pipeline is not concluded yet as Povicom plans to engage the CoCT for additional land parcels for SH delivery. A delivery schedule is presented below and the Regents Villas project is detailed to include a delivery schedule, costing, funding and financial projections.