Big investments into the Coega Industrial Development Zone have provided the impetus for low cost housing company Nu Way to forge ahead with an ambitious housing project near Motherwell, Port Elizabeth.
In April, the company announced plans to develop tens of thousands of low cost housing units as well as a mixed-use development that will effectively create a city within a city.
The company believes the low-cost housing project could address as much as 40% of the current housing backlog and also create thousands of jobs.
NuWay's Laki Constantinides says developments at Coega are providing further impetus for them to pursue their project in Nelson Mandela Bay.
"The IDZ concept also assisted us because it will create a pool of clients that we wouldn't have in other areas and together with those potential clients we can also at the same time assist the unemployed and underprivileged so we believe that the IDZ brought the opportunity so we decided to go ahead" Constantinides said.
