New residential apartments in South Africa are set to be constructed by JLK Construction one of the leading construction companies in South Africa. The apartments will be constructed in Paarl municipality. This would become the largest construction project JLK Construction have done so far.
According to the Managing Director of JLK Construction, Christie Swartz, they are planning to construct 70 new residential apartments in South Africa which will have varying sizes from 30m2 to 60m2. All this will have different renting prices upon completion in 2017.
Swartz also noted that the development will be highly accepted in Paarl because of the demand in accommodation and because of the fact that two previous housing projects by the company had been received well.
The two other developments by the company are the Zanddrift development in Northern Paarl and the Louw’s Avenue development in Southern Paarl. These apartments are being rented at a higher price than what they were going for back in the years.
Swartz further noted that the formula they used in both cases was right for benefit. They began by low charges in order to attract more tenants and buyers.
The company has been making a 10 percent increase on rent annually and has still maintained good tenants some of them being in the apartments from 4 years to 15 years respectively.
JLK will continue to be on the lookout for new residential developments and was ready to do partnerships with land owners and other developers.