This division was established in 2013 and has continued with the Group’s diversification strategy by moving into the residential and property development sector. It has improved the overall value proposition to the market through an enhanced product offering, and will generate alternative revenue streams in “non-contracting” work and thus create new opportunities in the Group for increased growth and revenue through spinoff.
The two focus areas of the division are:
Large “greenfields” integrated projects comprising housing typologies that may include fully subsidised RDP/BNG units, subsidised social housing and/or market driven rental units, “Gap” housing utilising the FLISP subsidy, and “affordable housing” being either bank financed full title individual houses or multi storey sectional title units.
Single typology “affordable housing” developments where ownership is either full title or sectional title. Some of these developments even have commercial properties within their boundaries.
In the aforementioned segments, Esor Developments will make use of the extensive experience and competence of our Construction Division to install the internal and bulk infrastructure, as well as constructing the majority of the houses and other social infrastructure that forms an integral part of the projects.
Focussing simultaneously on both the subsidised (government) and non-subsidised (bank financed) segments will allow Esor Developments to mitigate against over exposure to either one of the segments.
Esor Developments has the ability to:
- Identify and acquire land for suitable projects
- Package projects, including all legal and town planning activities
- Manage the professional teams
- Institute community based economic empowerment programmes
- Install all internal and bulk infrastructure (through our Construction Division)
- Construct houses (through our Construction Division)
- Construct commercial properties (through our Construction Division)
- Construct all social infrastructure (through our Construction Division)
- Provide overall project management
Esor owns the development rights as the “turnkey developer/contractor” for an integrated housing development on approximately 237 ha of land that will ultimately yield approximately 7900 residential units as well as commercial, social, educational and medical facilities.
- 7900 residential units
- 3 schools
- 5 multi-functional community nodes
- 3 shopping facilities
- 5 neighbourhood parks
- 1 hospital
Total project value is estimated at R1.5 billion.
We are currently constructing two pedestrian bridges to the value of R52 million which forms part of the bulk infrastructure of the development.
Soshanguve Ext 8 is a residential development in Tshwane. Esor have acquired the rights to develop Ext 8 in terms of a land availability agreement with the City of Tshwane Metropolitan Municipality for 839 residential stands.
Total project value excluding top structure opportunities is estimated at R 132 million.
The Orchards is an integrated residential development in Akasia, Tshwane and 100% owned by Esor.
Comprising of 1373 stands.
- 1 business site
- Private open space
- 2 x Educational sites and
- 1373 residential stands
Uitvlugt is an integrated residential development in Three Rivers East near Vereeniging and 100% owned by Esor.
Comprising of approximately 4200 proposed opportunities, of which Ext 1 (2242 units) is proclaimed and ready to be developed.
Total project value excluding top structure opportunities is estimated at R 700 million.