Gauteng Partnership Fund and National Empowerment Fund Launch R56,5 million Student Accommodation Project in Tshwane
Gauteng Partnership Fund and National Empowerment Fund Launch R56,5 million Student Accommodation Project in Tshwane. Today, the Gauteng Partnership Fund (GPF) and the National Empowerment Fund (NEF) launched a new R56,5 million student accommodation development in Pretoria Gardens to address the growing demand for quality student housing in Gauteng.
Haborona Student Rez, which is made up of 77 units yielding beds for 308 students, was financed through the GPF’s Student Accommodation Fund which was developed for student accommodation service providers that require additional funding for the project. The project, co-funded with the NEF and developed by Mapchief Trading (Pty) Ltd, is strategically located within a 4km radius of the Tshwane University of Technology (TUT).
Thabo Mongoato of Mapchief Trading acknowledged that as first-time property developers, the compliance requirements and due diligence processes were “rigorous”. “This is our first foray into the property development space, but we are grateful to the GPF and the NEF who were prepared to back our team,” Mongoato said.
He added: “The socioeconomic impact [since Haborona Student Rez opened] has been huge. Some shops were not here before but have since opened due to a new demand that has been created.”
This development, which comes weeks after the GPF launched two new projects housing a combined 378 University of Johannesburg and Wits University students, not only alleviates the backlog in student housing but also aligns with the GPF’s broader goal of addressing critical housing shortages across Gauteng. The demand for student accommodation in Pretoria significantly exceeds supply, with TUT enrolling approximately 60,000 students annually.
The MEC for Human Settlements in Gauteng, Tasneem Motara said the GPF, as an agency of the Gauteng Department of Human Settlements, has played a vital role in addressing the shortage of student accommodation, empowering black property developers to participate in the affordable residential property market, and delivering quality integrated developments close to where people could live, work, and play. “I am delighted to report that the building is already 80% occupied, a clear testament to the demand for quality student accommodation in our province,” Motara said during the launch event.
Lindiwe Kwele, the CEO of the GPF lauded the NEF for its “critical role and unwavering commitment to a transformed” country. “Your vision of empowerment and equality has been instrumental in making this project a reality and creating lasting opportunities for our youth and communities,” she said.
Khayelihle Sibiya, the NEF’s uMnotho Fund Investment Principal, noted that the two organisations had “funded several other student accommodation and social housing properties across the province.”
He added: “The NEF has been playing its catalytic role in transforming the property sector and has disbursed over R1.2 billion. In this particular property, the NEF has provided a senior loan of R36 million. Funding the provision of student accommodation is in the national interest because it helps to open the doors of learning by providing a solution for safe, secure and affordable residence for South Africa’s future leaders.”
Key amenities at Haborona Student Rez include fully equipped units with stoves, beds, study tables, lockers, lounge sets, washing machines, tumble dryers, and free Wi-Fi. It also boasts energy-efficient features, including heat pumps for hot water and LED lighting. The property has 24-hour manned security for enhanced safety.
