South Africa: Mogale City set for dramatic transformation
13 June 2012
Mogale City in South Africa is set to become one of the top economic growth areas in the country after it was announced that as much as R5 billion (£39.7 million) is to be spent on a number of important infrastructure projects, Biz Community reports.
Gerrit Alberts, manager of the local RealNet franchise, explained that news of the investment has already manifested itself in an upturn in the local property market, with businesses keen to take advantage of the upgrades.
It has been confirmed that around R1 billion is to be spent on upgrading the electrical infrastructure over the next three years, while a R2 billion shopping centre and housing development is also set to be built.
"Various other building projects have also been approved, and altogether 6,000 new homes in Mogale City are now in the planning stages," Mr Alberts explained.
"Meanwhile, though, areas such as Noordkruin and Noordheuwel are already popular with top local businessmen and buyers from elsewhere in Africa."