Top 5 Projects in South Africa
South Africa has a population of close to 60 million and has the second-largest economy in Africa. It has more than $190 billion of active projects, of which $81 billion is now under construction.
South Africa is the second-largest economy (2019) and the fifth most populous country in Africa. Plagued by power shortages due to decades of neglect, South Africa has embarked on a massive investment drive to refurbish existing power plants and develop new sources of power through a substantial renewable energy drive.
South Africa has more than $190 billion of active projects, of which $77 billion or forty-one per cent is in the energy sector. $81 billion is currently under construction, with a further $109 billion on the drawing board.
The top 5 megaprojects under construction are:
Balwin Properties Limited is developing the project in Cape Town and will have 20,000 residential units.
ABB South Africa is constructing the 4.8 Gigawatt power plant. It consists of six 800 Megawatt units, of which three is operational and the remaining units under construction. Commissioning of the final unit is scheduled for 2023.
Balwin Properties Limited is developing the Munyaka development, consisting of 5,200 apartments, education, healthcare and a retail complex. Road-Tech Engineering is the main contractor on the project.
The $2 billion project will develop eight square kilometres into prime real estate consisting of more than 8,500 apartments, 5,000 townhouses, schools, retail, leisure and entertainment facilities. Steyn City Properties and Plumari Property Group are the main developers.
Tongaat Hulett Property is developing a real estate project on 20 square kilometres of land in the Kwazulu-Natal Province. The project includes residential, commercial, retail and leisure zones.
For more information on these projects or other projects in Africa, you can get in touch with us here.