Eastern Corridor Housing Estates

Eastern Corridor Housing Estates: Eastern Corridor Housing Estates (ECHE or the Project) are situated in the heart of one of the 5 new economic nodes in Gauteng. The far Eastern activity belt includes the CBD’s of Brakpan, Springs and Nigel, as well as the industrial areas of Vulcania, New Era, Nutfield, Vorsterskroon and Pretoriusstad industrial areas around Nigel. The areas consist of 9 Central Business Districts/retail areas.

The Project Company consists of a multi-disciplinary partnership of dedicated high-quality services. The Project Team has extensive experience and expertise in originating, implementing, and managing, integrated projects from conception to completion.

The total amount of funding required for Phase 1 of the Project is R4.010 billion, which is the total all-inclusive development cost. This represents a maximum of 4248 apartments to be constructed, of which 75% or 2976 of the apartments will be for long term rentals. The remainder of the apartments will be for short term rentals, but the specification of these properties will be better quality finishes. The project has an after-tax Internal Rate of Return (IRR) of 12.39%. Without any sales, the project has an after-tax IRR of 10.99% over 25 years.

EASTERN CORRIDOR HOUSING ESTATES: IIB-DG acquired EASTERN CORRIDOR HOUSING ESTATES on March 31, 2021. The Eastern Corridor Housing Estates is the first purpose “green built” housing estates in the Eastern Corridor of Gauteng, which is remarkably close to the Gibela Rail Consortium factory, Sedibeng Manufacturing and Coca Cola Beverages SA, as well as the industrial areas such as Nuffield (Nampak and Mccain Foods). New Era (PG Glass and Kellogg’s SA). Brakpan, Benoni and Boksburg is also a short commute.

The first phase represents a maximum of 4248 apartments to be constructed, of which 75% or 2976 of the apartments will be for long term rentals. The remainder of the apartments will be for short term rentals, but the specification of these properties will be better quality finishes.