Swakop Waterfront building set to begin

THE site for the multi-million Swakopmund Waterfront development was handed over to the builders yesterday – more than two years after the project was launched.

Chairperson of the Swakopmund Waterfront Company, Festus Naholo, blamed the delays on “various bureaucratic involvements”. He said it had cost the company time and money and caused such frustration and anger among the investors that at one stage they had wanted to pull out.”I persisted that we should stay put and not be defeated by events and time,” said Naholo.John Ngolombe, the Deputy Mayor of Swakopmund, called on the developers to give preference to local residents when employing people.According to the Swakopmund Waterfront Company’s Executive Director for Corporate Affairs, Ulrich Sedi Gaoseb, the building of the 72 town houses and 45 single residential houses, at a cost of N$40 million, would start immediately.The first residents are expected to move in within a year.The marina will not be started for at least another three months, said Dirk van der Merwe, MD of Windhoek Consulting Engineers (WCE).Residents and Councillors have previously expressed fears that the development might result in only the residential areas being built and not the harbour as had allegedly happened with a previous project at the town.Van der Merwe said they were working on two alternative designs for the marina.”We have to implement the CSIR recommendations into our design,” he told The Namibian.WCE is working with Entech, a specialist marine consultancy, on the basic design.Van der Merwe said Entech had been responsible for the design of Granger Bay in the Cape Town harbour.Basil Smit, the developer and Desert Child partner, said 60 per cent of the town houses, including all the seafront properties, had been sold.The rest would go on the property market within three months.The seafront houses went for about N$1,5 million, while houses towards the back sold for around N$1 million.According to Smit the residential units had almost doubled in number as the timeshare section of the development had been converted into more sectional title units.The cost of the project has also gone up – from N$250 million to between N$350 and N$400 million.Smit told The Namibian there had been a lot of interest from overseas buyers.At present, about 10 per cent of the sold property was bought by overseas buyers, 20 to 30 per cent by people speculating with property and 50 per cent by people who wanted to own it.He said options had been taken on about 50 per cent of the two levels of residential units planned for the harbour component.The penthouses will sell for between N$2 million to N$4 million.He said it had cost the company time and money and caused such frustration and anger among the investors that at one stage they had wanted to pull out.”I persisted that we should stay put and not be defeated by events and time,” said Naholo.John Ngolombe, the Deputy Mayor of Swakopmund, called on the developers to give preference to local residents when employing people.According to the Swakopmund Waterfront Company’s Executive Director for Corporate Affairs, Ulrich Sedi Gaoseb, the building of the 72 town houses and 45 single residential houses, at a cost of N$40 million, would start immediately.The first residents are expected to move in within a year.The marina will not be started for at least another three months, said Dirk van der Merwe, MD of Windhoek Consulting Engineers (WCE).Residents and Councillors have previously expressed fears that the development might result in only the residential areas being built and not the harbour as had allegedly happened with a previous project at the town.Van der Merwe said they were working on two alternative designs for the marina.”We have to implement the CSIR recommendations into our design,” he told The Namibian.WCE is working with Entech, a specialist marine consultancy, on the basic design.Van der Merwe said Entech had been responsible for the design of Granger Bay in the Cape Town harbour.Basil Smit, the developer and Desert Child partner, said 60 per cent of the town houses, including all the seafront properties, had been sold.The rest would go on the property market within three months.The seafront houses went for about N$1,5 million, while houses towards the back sold for around N$1 million.According to Smit the residential units had almost doubled in number as the timeshare section of the development had been converted into more sectional title units.The cost of the project has also gone up – from N$250 million to between N$350 and N$400 million.Smit told The Namibian there had been a lot of interest from overseas buyers.At present, about 10 per cent of the sold property was bought by overseas buyers, 20 to 30 per cent by people speculating with property and 50 per cent by people who wanted to own it.He said options had been taken on about 50 per cent of the two levels of residential units planned for the harbour component.The penthouses will sell for between N$2 million to N$4 million.