City approves fifth upmarket golf estate

A GROUP of local businessmen will soon start with yet another exclusive golf estate in Windhoek, with a total investment valued at N$1 billion.

The Eros Valley Development Consortium (EVDC), led by prominent businessman Sidney Martin as chairperson, will be the fifth upmarket development in the capital after the Windhoek Golf Estate next to the Windhoek County Club and Resort, the Omeya Golf and Residential Estate situated south of Windhoek, the Elisenheim Lifestyle Estate north of the capital and the Finkenstein Estate east of the city.Other members of the EVDC are Russell Paschke, Frank Fredericks, Lazarus Jacobs, Desmond Amunyela, Stephen Roy Paschke, Thurstan Salt and Jacobus de la Rey du Toit.The idea behind the envisaged development is to cater for high-income earners in the country, who can afford to buy residential stands at a projected selling price of over N$1 million.The City of Windhoek recently approved an application for the development of the golf course and residential component as a ‘Special Project’.During the last City Council meeting on 30 May, councillors approved land use to EVDC for a residential area of 45,5 hectares, a golf course area of 125,3 hectares, a club-house area of near one hectares, a boutique hotel area of 1,1 hectares and public open spaces of 35,2 hectares.The EVDC will develop a total of 466 residential stands that consist of 155 residential stands with a projected selling price of about N$1 million each as part of Phase One, while the second phase consists of a total of 155 residential stands at a projected selling price of N$1,2 million each, and 156 residential stands at a selling price of N$1,4 million each.The City recommended that the group pays the upset price of N$33,6 million for a portion of the remainder of Farm No 69, and the remainder of Erf 403 in the Eros area.The City also recommended that the development be completed within five years from the date of signing the sales agreement.During the township development period, over 1 500 employment opportunities will be created.In an interview with Nampa, Jacobs and Amunyela said the idea of the development came about a few years ago, as most of the members of their consortium are golfers.’The consortium came up with this idea of a golf course and residential development to cater for the demands in the country,’ Amunyela said.Jacobs added that the group also came up with the idea to develop a tourist attraction, and address the issue of housing in the capital.He suggested that the City of Windhoek should enter into private partnerships with private companies to service land to increase housing developments.’Once you hang onto land, the demand will increase, and at the same time, the price will increase,’ he said. – Nampa