The Sectional Titles Act is now operational in the country and is anticipated to lead to affordable property prices. The apartments at Malkerns Square will be developed in the first quarter of 2023, with mortgage finance provided by the Select Group.

By Ntokozo Nkambule

The SBC Limited Group has disclosed that it will develop 1 & 2-bedroom apartments in the first quarter of 2023 at Malkerns Square.

This information is contained in SBC Limited Group’s results for the six months period ended 30 June 2022. SBC Limited Group is an investment holding company that provides financial services under Select Limited and is also behind the Malkerns Square Project.

The group says the apartments to be developed in 2023 will be made affordable for emaSwati, as the whole idea is to empower emaSwati. The company has residential units which are being rented at the present moment. “Complementing our existing residential offering will be the new development of affordable one & two-bedroom units, planned for development to start in the first quarter of 2023. These will specifically be designed and built for sale under the Sectional Titles Act” notes the company.

The investment group further states that the mortgage finance product will be provided by the Select Group to successful applicants. The group observes that the apartments they will develop will provide homeownership opportunities to emaSwati who previously did not qualify to own property, due to restrictions in traditional bank finance.

Additionally, the group has confirmed that it plans to develop the second phase of its retail development. “Management is also planning the second phase of its retail development, with the planned development of approximately 5 000 sqrm, of additional retail space in Eswatini to commence in the fourth quarter of 2022” SBC Limited notes in its report.

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