SUBSIDIARY NAME
Setsoto Green City Development Project.
COUNTRY
SOUTH AFRICA
SECTOR/ INDUSTRY
REAL ESTATE
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
August 23, 2022
ACQUISITION VALUATION
5.971889 BILLION
TOTAL ASSET VALUATION
59.71889 BILLION
REAL ESTATE
Setsoto Green City Development Project by Modise Peter Kola acquired on August 23, 2022.
This project is prime real estate touted to house over 350,000 to 500,000 people within the decade using the airport as a hub for economic growth and further expanding on the city’s path to a sustainable future between South Africa and Lesotho. Other valuable sectors the plan has outlined to have a positive economic effect on includes science and technology, the manufacturing industry, the mining corridor, and the general restoration and revitalisation of the Ficksburg CBD.
These claims of economic prosperity are well expected when considering the investment is estimated to cost the tax-payer R100 billion. With the promise of a sizable return garnered from investment corridors outlined in the report, the Provincial Government is confident that we can expect to see a net growth of over R200 billion within the following years.
These “corridors” mentioned in the report are sectors demarcated as geographic areas of the greater Setsoto area and can be simplified as such:
- The Central Development Corridor
- The Northern Development Corridor
- The Eastern Development Corridor
- The Southern Corridor
- The Western Corridor
The project consists of Commercial Development, Mixed use Residential Development, Agri – Industrial Value Chain Development, Tourism Development, Recreational Facilities, Health Facilities, Educational Facilities, Light, Medium and Heavy Industrial Port, Waste Energy Plants & Biogas Plants / PV Solar Plants and Bullet Train Network. Comprises with 10 Phases and 40 Clusters.