Irene in Gauteng province poised for R10 billion worth of development – Abacus DIVISIONS
Developments and upgrades within the greater Irene area– situated in the Gauteng Province – continue unabated with the announcement that the long-awaited upgrade to the Nelmapius Road Bridge over the R21 highway is on track and due for completion at the end of the first quarter of 2014. The latest date for completion is the end of May, with no delays expected.
Org Geldenhuys, MD of property development and marketing company, Abacus DIVISIONS –one of the companies active in the area – said “upgrades and developments such as this” are part and parcel of a decision by one of the major property development groups in the area, to develop approximately 500 000 square meters of bulk in the greater Irene area. The release of the land has now been approved – and is earmarked for development “in a phased approach”.
He emphasised that the R10 billion of investment is “only for the Irene area”, adding that this positive sign augers well for other property developments in the Gauteng Province.
Commenting further on developments in Irene, Geldenhuys further explained that the bridge upgrade is part of a total package of road infrastructure upgrades in the greater Irene area, currently estimated to cost in excess of R750 million on completion – with the funding coming entirely from private property developers in the area. “It looks like there are really exciting opportunities for property investors,” said Geldenhuys.
Featured Properties in Route 21 Corporate Park & Irene area: