Over R500 million has been allocated for student housing and refurbishment at 24 state-owned universities in South Africa.
According to reports, the Minister of Higher Education and Training, Blade Nzimande said he has allocated more than R500-million for student housing and refurbishment at 24 state-owned universities in the country in other to provide homes for “homeless” students at the universities.
As related, Kwaye Nkwanyana, the spokesperson of the department disclosed that Blade has informed the Vice Chancellors of the institutions about the student housing fund, the details and directives on how to use it.
“The minister has written letters to the vice chancellors of these universities indicating the amounts allocated and the conditions for the use of the grants,” Nkwanyana said.
It was gathered that the funds for the student accommodation project were part of the allocations Blade approved for the 2015/2016 financial year Infrastructure and Efficiency Output Grant.
Reporting this, IOL specified that “the allocations include R700-million for backlog maintenance, refurbishment/remodeling, capacity upgrades (bulk services), R763 410-million for priority/committed projects, which require urgent funding and R517 790-million for student housing.”
South African universities have faced an increasing housing crisis with students always struggling to find a decent accommodation. In fact, REAL ESTATE INVESTORS last year, revealed the increasing demand for student accommodation in South Africa has opened up opportunities for investors.
“With over one million students registered at private and public universities in South Africa, opportunities for property investors are seemingly infinite,” they hinted and highlighted the below based on a survey conducted on some of the universities in the country.
- There are only 68419 spaces for the 140000 residence applications for 2015 countrywide.
- Wits received 34000 applications; it can accommodate 6000 students;
- The University of Cape Town received 21469 applications; it can accommodate 6600;
- Stellenbosch University received 13600 accommodation applications; it can accommodate 6200;
- The University of Pretoria can accommodate 9470 of its 49000 students on campus; and
- The University of KwaZulu-Natal is one of the institutions that can almost meet the demand for accommodation. It will house 12088 of 12727 applicants