How Big Are Mega Projects?

In order for the project to be enrolled and nominated for the Mega Projects, it needs to yield at least 10 000 residential units.┬áThese units need to be of different typologies, sizes, price range and specifications meeting different market segments – i.e. RDP housing, GAP and Affordable Housing, Walkup apartments, and so on.

 

In order to make these project “live, work & play” while this large number of units, it also means that all the infrastructure, as well as social amenities, are part of the project – churches, schools, daycare and crashes, retail, industrial, commercial, sports facilities and so on.

 

The size of Mega Projects is in size anything from 10 000 units right up to 70 000 units. In terms of monetary value, Mega Projects start at around R5 Bill and up.

 

With this size, the Mega Projects take years to prepare and obtain the rights and zoning in place, and take years to execute and deliver the housing, infrastructure and amenities.