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Residential mega projects in Africa

In the next two decades UN-Habitat estimates there will be more people living in towns than in rural areas. This is due to Africa’s booming economies. A number of important infrastructure projects are underway to make room for these people. Here are some of the largest residential projects coming to Africa in the next several decades according to Business Insider, International Finance Corporation and Construction Business Review

1. Eko Atlantic

City Project Nigeria’s leading real estate investment company South Energyx Nigeria Ltd is developing Eko Atlantic City Project on Victoria Island. Across Nigeria, there is a housing deficit of more than 17 million units.

South Energyx is reclaiming land from the Atlantic Ocean to build Eko Atlantic City on the shores of Victoria Island. It is protected by an 8km long sea wall and will have its own power, water supply and an independent road network. It will accommodate more than 500,000 people.

2. New Cairo

With the continent’s second largest economy and third biggest population, Egypt also occupies a very strategic place in the One Belt One Road scheme of things. Beijing has pledged to build a new capital city for Egypt in the desert east of Cairo.

With 700 square kilometres of desert being roped off for the new capital, the city is expected to require $45 billion (Sh4.6 trillion) to get off the ground and will include smart villages, 1,000 mosques and an Indian-financed medical centre and university.

3. Modderfontein New City

A $8billion (Sh813.2 billion) new city project has been unveiled for Modderfontein east of Johannesburg by a Chinese company, Shanghai Zendai. This mega project will focus on infrastructure with the initial construction directed on schools and houses.

The city will include nine functional zones, the central business district, international conference and exhibition centre, an entertainment centre, silver industry and retirement industry, international residential community, education and training centre, sports Centre, trade and logistic park and light industry park. The city will be home to at least 100,000 residents upon completion.

4. Konza Technology City

Konza Technology City is a proposed technology city modeled on America’s Silicon Valley. It is a smart city coming up in the Eastern part of Kenya and will cost $14.5 billion (Sh1.5 trillion).

The Ministry of Information and Communications Technology has been spearheading the establishment of a technology city on 2,000 hectares of land located 60 kilometres southeast of the capital, Nairobi.

5. Centenary City

Centenary City is an ambitious, private sector-driven smart city project by the Federal government. The project marks Nigeria’s 100th anniversary which was celebrated on January 1, 2014, during President Goodluck Jonathan’s administration.

The project broke ground in June 2014 and has anticipated completion timelines of 10 to 15 years. The $18 billion (Sh1.8 trillion) worth project anticipates more than 400,000 residents on a 1,260 hectares piece of land located in Abuja. This smart city hopes to mirror Dubai, Monaco and Singapore.

6. FESTAC City

In September 2014, Nigeria’s Ministry of Housing and Urban Development, through the federal government, approved the concession of Phase two of the Festac scheme under a 30-year build-operate-and-transfer lease agreement in Lagos.

The project is estimated at $2.4 billion (Sh243.9 billion). Based on this agreement, New Festac Property Development Company Limited, (NFPDCL) is undertaking land reclamation, sand-filling, infrastructural development, marketing and sale of the over 7,000 plots of land to be created from the reclaimed land.

7. Jemo Condominium units

Situated near the slopes of the hills circling the Ethiopian capital’s southern flank, Jemo is a colossal condominium complex, completed in 2010 and comprising more 10,000 apartments.

When it opened, Jemo was the largest housing site in the city, and today is home to some 50,000 people, many of whom work several miles away in the city centre. In order to deal with rapid population growth and an acute shortage of affordable housing, authorities in Addis Ababa and in smaller cities across the country have been building condominium units targeting low and middle-income groups, financed entirely with public money.

8. Ekurhuleni Metropolitan Municipality

The Ekurhuleni Municipality in Pretoria-South Africa will over the next five years roll out six mega housing projects to respond to the rampant human settlement build-up within the city.

The city had last year anticipated to deliver approximately 5,000 housing units with an additional 8,000 housing units to be completed in the 2017/18 financial year.

9. Kenya

A total of Sh 2.6 trillion will be spent to build a million low-cost houses across Kenya in the next five years as East Africa’s largest economy seeks to bridge its national housing gap that currently stands at an estimated 1.85 million units.

The Ministry of Transport and Urban Planning has so far shortlisted 35 firms. Mavoko and Machakos County will serve as a prototype for the million homes project. The current government has promised to provide 800,000 affordable houses and 200,000 social houses for sale in five years.

10. Egypt

In 2016, the Egyptian government sealed four financing contracts worth $381 million (Sh39 billion) to help fund construction of a million housing units across the country. The housing development, which is one of the country’s most ambitious projects, will see construction of 150,000 residential units by the end of this year.

According to Egypt’s media reports, the contracts have been signed with the Housing and Development Bank, the National Bank of Egypt, Banque Misr and Banque du Caire, with loans received from each worth $95.4 million (Sh9.7 billion).

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