SA Affordable Housing November - December 2018 // Issue: 73 | Page 25

PROJECTS
New benchmark with
launch of Basil Read Homes
Basil Read Homes was officially launched in Walkerville, Midvaal,
with a ribbon-cutting ceremony in June at the company’s
showcase Savanna City development south of Johannesburg.
Compiled by Cherry Ellis
T
strategy, which includes the reignition of our top-structure
division, Basil Read Homes.”
Once completed, Savanna City will comprise more than
18 000 homes, 12 schools, municipal amenities, commercial
hubs and several parks.
With a 65-year track record, Basil Read has played its part
in building the foundations of South Africa, experienced
several construction booms and weathered economic
challenges along the way.
With Basil Read Homes, the company’s focus is on
building safe, secure, innovative and profitable homes that
will attract a cross-section of South Africans in search of a
better-quality lifestyle.
Savanna City is funded by Basil Read and the Housing
Impact Fund South Africa (Hifsa), a R9-billion fund set up
and managed by Old Mutual. Hifsa is a development impact
fund that seeks to provide commercially viable investments
into the affordable housing sector while enabling investors
his comes after Basil Read’s construction and civils
departments were recently placed under debt rescue,
but a spokesperson says that the launch of its housing
and building divisions are going full steam ahead.
Savanna City, being built on land near Walkerville,
showcases a new national trend: large-scale integrated
mixed-use and -income housing developments. It is one of
the largest developments of its kind in South Africa.
The construction company’s developments division
pioneered this trend with Cosmo City northwest of
Johannesburg more than 10 years ago. Its success led to
other, similar developments including Savanna City and,
ultimately, the launch of Basil Read Homes.
“Basil Read is proud to officially launch Basil Read Homes
here at Savanna City,” says Basil Read CEO Khathutshelo
(‘K2’) Mapasa, at the event.
“This launch is a practical demonstration of how our
company is moving full steam ahead with our turnaround
The exterior of the beautifully designed two-bedroomed unit.
www.SAAffordableHousing.co.za
NOVEMBER - DECEMBER 2018
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