Completed project

There will be 5 phases to the project and should take 5 years to complete. This is just one of several other projects that will be developed. While the purchase prices have been paid in full by HopeSA Holding Trade (Pty) Ltd, the properties will be registered in The Partnership’s name.
Phase one has been completed. 50% sold and 50% rented out. The first phase took longer than anticipated due to the recession that started and the huge slump in property slump. The national credit act that also held the banks accountable also created a scenario where the banks did not readily approve loans as was in the past. This created a very slow take off of sales of the units. The economy and the buyer’s market are recovering slowly. It is therefore estimated that the company will be on track with its further developments.
 
The process forward is to build 7 units per phase, sell 5 units and rent out two units. This will create a continuous income to overcome lumps in the project progress.
The costs associated with taking transfer of the property into the names of the parties, including transfer duty and all conveyance costs relating thereto will be contributed by HopeSA Holding Trade (Pty) Ltd. Mortgage secured loans will be registered against the properties and the proceeds will be used to finance the construction of a residence on each respective property. All costs relating to the registration of the bonds will be contributed equally by way of loans to the partnership. While the bonds will be registered over the properties by the parties jointly, the parties intend that all liability be shared equally.
The Partnership will act as facilitators in the demands of the fast growing property development market. The initial properties will be constructed and marketed as housing developments allowing further development in the same area at the same time creating much needed job opportunities. The intended project will operate within the following criteria to firstly support the ethos of the proprietors but also as a marketing tool aimed at responsible property development.