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Cape Town - Black-empowered residential project developer Calgro M3 [JSE:CGR] announced on Thursday that it will be taking on its first project outside of South Africa.
The company said that it has been awarded a project in Namibia, expanding "its operations into Africa to grow its existing pipeline of secured projects and diversify its exposure to housing in South Africa".
"The R812m Otjomuise project in Windhoek, awarded by the National Housing Enterprise (NHE) of Namibia, consists of the construction of 2 523 residential units and is programmed for completion in three years and six months," it said.
Calgro M3 said that the Windhoek project "will complement the strong pipeline of existing projects to be rolled out over the next 5 to 6 years in South Africa."
The company said that it has been awarded a project in Namibia, expanding "its operations into Africa to grow its existing pipeline of secured projects and diversify its exposure to housing in South Africa".
"The R812m Otjomuise project in Windhoek, awarded by the National Housing Enterprise (NHE) of Namibia, consists of the construction of 2 523 residential units and is programmed for completion in three years and six months," it said.
Calgro M3 said that the Windhoek project "will complement the strong pipeline of existing projects to be rolled out over the next 5 to 6 years in South Africa."
