Nedbank Corporate Property Finance: Affordable Housing announced that it has provided funding to MDV Developments for its Lakeside development in the greater Vanderbijlpark area.
The development comprises 200 stands ranging in size from 220sqm to 510sqm, with modern two and three bedroom homes ranging in size from 40sqm to 64sqm.
It is situated approximately three kilometres away from the Palm Springs Mall, 35 kilometres from the Southgate Shopping Centre and 45 kilometres from the Johannesburg CBD. Lakeside itself is well serviced with tarred roads and underground electrical reticulation.
“MDV Developments has managed to package starter homes from R269 000 to R406 000 (all costs included) in their Lakeside development, making these some of the most affordable starter home projects in the country,” say Manie Annandale, Head: Nedbank Corporate Property Finance Affordable Housing.
“Add to this that the development is close to schools and clinics, situated on some of the main transport routes in the area and within walking distance from the Palm Springs Mall - you have an exceptionally popular offering, as the 74 homes that have already been built and sold show.”
The world wide economical downturn and more specifically the downturn in the residential property market, says Anton van Vuuren, Managing Director of MDV Developments, have enabled MDV to acquire some well located pieces of land at differing stages of approvals and servicing. “These acquisitions will enable MDV to continue the delivery of high quality units at affordable prices to the market over the next three to five years.”
For more information contact Caroline Hughes of MDV Developments via email.
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