Huge interest in plaza

This was expressed in a statement released by Haddis Tilahun (Executive Director United Africa Group UAG) this week, who said there has been a huge demand from all sectors to obtain either full buildings or space for offices and shops.

He mentioned that the next few weeks will determine and decide the exact timing and grounding breaking date of the N$1-billion development, which is to be situated in the huge open parking lot in the heart of Windhoek CBD opposite the Windhoek Supreme Court.

“We are very happy with the response so far, particularly the requirement from National tenants for retail space which has far outstripped our expectation, to the extent that the developers are currently considering doubling the space allocation for retail,” said Tilahun.

“The demand and urban planning concept will drive the proportion of the space and how it is divided.”

The total building area after completion will be approximately 65 000 square metres and will provide 1 980 parking bays in the three-level ‘Super Basement’ with excellent in/out access to and from the adjoining streets.

The huge volume of space is going to be adequately utilised, with a mix of real estate ‘ ranging from ownership, sectional title ownership, leasing and rentals.

He also mentioned that a lot of emphasis is being placed on the new hotel which comprise suites only, and aims for the requirements of five star level as well as it conforming to world standards. He sees this final product as becoming a “capital city status symbol.”

“The Eliakim Namundjebo Plaza has requested a proposal from local Namibian architect firms to come forward with a final design for the hotel,” he continued.

“As Namibia grows and finds itself a country drawing more international interest, the UAG wants to provide a facility that is going to be the flagship of Namibian accommodation, and a hospitality landmark,” Tilahun continued.

He also stated that the significance of the entire project not only lies with the local entrepreneurs, but an equally considerable relationship lies between themselves and the Windhoek Municipality.

“The developers therefore need to create a city centre static and image, which would transform our capital into a hub for city lifestyle, in collaboration with the different council bodies,” he added.

Tilahun added that the sheer quantum of the development dictated that space should be allocated to both be private and public sectors.

He said the emphasis is to promote a ‘Public Private Partnership’ (PPP), in an effort to stimulate sustained economic growth and fast track the maximum realization of vision 2030.

In this connection the UAG has introduced the Eliakim Namundjebo Plaza as a viable investment proposition, through which the Government and the PPP would work together to enhance economic developments in the country.

“The United Africa Group has taken a pragmatic step in charting the path for effective smart partnership, ” he continued.

“We believe that a PPP is a critical imperative between government and business for the provision of assets and delivery of services that allocates responsibilities in business risk taking.

“Currently we are under intense high level negotiations with the Government, as well as all stake holders in the private sector who will play a role in the successful partnership of future ownership, leasing of unit rentals at the Plaza.

“There is no doubt that a developments project this size, would provide larger employment opportunities, as well as having a positive impact on the economy and generated spending,” concluded Tilahun.

August 2006
« Jul   Sep »