The Government of South Africa is planning to construct 1.5 million houses in the next five years. The Minister for Human Settlements, Lindiwe Sisulu has noted that this project will help improve the relationship between the government and the private sector and possibly create funders for the housing project.
The Department of Human Settlements had been allocated a budget worth US$2.60bn at the beginning of this year, and the amount will be increased to US$3.03bn within the next two years.
Of the new 1.5 million houses to be constructed, 30 percent will be specifically for indigent citizens, 20 percent will be for renting out, while another 20 percent will be for individuals earning between US$133.5 and US$891.2 per month. Social housing will receive 10 percent of the allocation, while 20 percent will be for serviced sites for informal settlements.
If the 1.5 million construction target is met, the housing backlog in the country will be easily addressed, and 2200 informal settlements will be eradicated. This will help prevent violence and protests that occurs in such regions.
Sisulu also noted the government will give a major focus to the megaprojects involving 10 000 housing units. These housing construction projects will also create various jobs for youths in the region. South Africa had earlier on this year initiated a number of other housing construction projects, including the Marikana Extension 2 housing project in North West Province, South Africa slated to take US$ 0.141bn.
