Our developments business focuses on large-scale mixed income integrated housing developments. These also generate construction work for the company. This is an integral part of our social licence to operate and we work with government at all levels, parastatals and non-governmental organisations to support national imperatives focused on improving the quality of life of South Africa’s people.

Key current projects include Savanna City (over 18 000 planned housing opportunities) and Malibongwe Ridge, as an extension to Cosmo City (about 5 500 planned housing opportunities).

Key Contracts

  • Savanna City – unit sales continue to exceed expectations, underscoring the demand for affordable housing. We are installing internal services to support the continued roll-out of stands. Along with our partner, Old Mutual’s Housing Impact Fund of South Africa, we are working with the Gauteng Department of Human Settlements and Midvaal local municipality to ensure this 1 400 ha project sets a benchmark in economic development and housing. Over the next decade, the entire project will create tens of thousands of jobs, with thousands of permanent jobs post-construction
  • Malibongwe Ridge – servicing for the first phase (486 fully subsidised residential stands) is complete, and top structures were completed in 2015
  • Klipriver Business Park – stand sales to date have exceeded forecasts, reflecting rising interest in this vibrant work node, south of Johannesburg.

Case Study

Cosmo City, Gauteng

Cosmo City in Gauteng is a flagship project and demonstrates the unparalleled success of a mixed-use, fully integrated and sustainable housing development. Since breaking ground in 2000, Cosmo City has steadily grown and is currently home to over 12 000 families who now enjoy the numerous parks, schools, cultural and transport facilities, and commercial and retail offerings that have been taken up by the private market.

The development was initiated by Government to address poverty and housing access challenges, generate a sustainable rates base and stimulate economic growth. Through the unlocking of key infrastructure by government, the Public - Private Investment mix has been able to contribute to the success of the development as a mixed income residential development that is subsidised by the open market components within a single integrated setting.

This development has created a healthy and vibrant live, work and play environment for all its residents and has created almost 50 000 employment opportunities and had a socio-economic impact value of close to R16 billion during construction and R20 billion post construction.

Cosmo City has ensured the spatial transformation of the city through the development of a large quantity of housing units within a quality neighbourhood and ensured integration and affordability of the community.

This hallmark development represents a milestone in the history of the Basil Read group and indeed a South African government integrated housing success story as it has received in excess of eight development awards and recognition over the duration of the project.