26 June 2006(FNB) and the Gauteng Department of Housing are co-operating to close the gap that exists in South Africa’s affordable housing market.FNB, one of South Africa’s “big four” retail banks, launched a R800-million housing development last Thursday that will see more than 3 000 houses being built in a new Soweto suburb to be called Glen Ridge.Each housing unit will consist of three bedrooms, a bathroom, kitchen and lounge at the cost of R168 000 (all inclusive).Construction will begin in July, with the first batch of houses to be available from as early as October.The project is split into commercial property finance (to fund developers to build the houses) and end-user finance in home loans for potential buyers to address the challenge of access to credit.FNB has set aside approximately R500-million to provide finance for the buyers, and R300-million for established property developers to build the houses.The initiative is in line with an agreement the government signed last year with the country’s four major banks – FNB, Absa, Standard Bank and Nedbank – under which the institutions committed themselves to pouring R42-billion into the country’s low-cost housing market.Gauteng Housing MEC Nomvula Mokonyane commended the bank for helping ordinary South Africans to acquire homes through innovative home loan products.“Our role as provincial government will be to provide housing subsidies as equity to ensure affordability and quality houses for people in the middle to low income bracket,” Mokonyane said.Township development has in the past had limited appeal for developers because of difficulties involved in selling the properties.However, FNB chief executive officer Michael Jordaan said the collaboration between the banks and the government would make the provision of finance to buyers far smoother and the initiative an attractive one for developers.Last month, FNB unveiled a R368-million project to build more than 1 000 affordable houses at Cosmo City, north of Johannesburg. So far this year, the bank has ploughed approximately R1.7-billion into affordable housing developments.Jordaan emphasised that supporting South Africa’s previously under-serviced housing market was not merely about “ticking FSC [Financial Sector Charter] target boxes.”It was a business imperative, he said, for the country’s banks to contribute to the sustainable development and economic well-being of the communities they served.Source: BuaNews Want to use this article in your publication or on your website?See: Using SAinfo material
Congress vice-president Rahul Gandhi will launch the party campaign for the Assembly elecions in Gujarat on September 4. Subsequently, he will start a two-day yatra from Dwarka in Saurashtra to north, central and south Gujarat from September 22.“We are launching the campaign with the theme Congress Aave Chhe (‘Congress is coming’) with Rahulji’s dialogues with party workers, businessmen, traders and NGO representatives,” State party president Bharatsinh Solanki told presspersons here on Saturday.The party would focus on issues concerning farmers, unemployment, expensive education due to privatisation, and the collapse of the health sector, he said.Mr. Solanki added that his party was engaging with traders and businessmen on their issues because demonetisation and high GST rates have severely impacted businesses in the State.The ruling Bharatiya Janata Party (BJP) is also set to launch its high-profile campaign from September 10 with national president Amit Shah’s town hall event in which one lakh youth workers will participate.Banking on social mediaMr. Shah will address them and take their questions using social media platforms like WhatsApp, Twitter and Facebook. “Our national president will hold the event with the theme Adikham Gujarat (‘Resolute Gujarat’). After that, the campaign will formally be rolled out across the State,” said Bhupendra Yadav, BJP general secretary in charge of Gujarat.
Congress president Rahul Gandhi would arrive here on Tuesday to kick-start the election campaign in the north-eastern States. Of the 25 MPs to be elected by the north-eastern States, two would be from Manipur.Mr. Gandhi will arrive in Arunachal Pradesh and then reach Imphal where he would stay for the night. The next day he will leave for Tripura. He is likely to announce the names of the two Congress candidates during his stay in Imphal. He would also address a public meeting at Hafta Kangjeibung on Wednesday.The Manipur Pradesh Congress Committee issued a statement welcoming Mr. Gandhi. ‘Failed promises’ The party accused the BJP-led governments at the Centre and in the State of taking the tribals for a ride by promising to implement certain measures which they could never do. The promise that the recommendations of the 7th Pay Commission would be implemented was a cruel joke, the party said.The Congress also attacked the State government for the midnight raids carried out at students’ hostels and residences of professors of Manipur University for demanding the removal of the vice-chancellor.The BJP and the Congress, which are the major players in the Lok Sabha polls in Manipur, are yet to announce their candidates. Both are waiting for the other to blink first to assess the party’s strength.
As power forward Bong Quinto and point guard John Calvo put to rest rumors that they’re leaving Letran, the Knights are expected to be at full-strength against the Mapua Cardinals in their NCAA Season 93 basketball tournament debut.“I’m just happy we’re a complete team now,” said Letran coach Jeff Napa.ADVERTISEMENT Pagasa: Kammuri now a typhoon, may enter PAR by weekend Pagasa: Storm intensifies as it nears PAR Don’t miss out on the latest news and information. LATEST STORIES “The goal is to play hard every game and stay competitive,” said JRU coach Vergel Meneses.With former San Sebastian star CJ Perez finally suiting up, the Pirates of coach Topex Robinson have been installed as one of the favorites of the season.Sports Related Videospowered by AdSparcRead Next MOST READ China furious as Trump signs bills in support of Hong Kong Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Petron-F2 tiff up El Nido residents told to vacate beach homes Lacson: SEA Games fund put in foundation like ‘Napoles case’ Another vape smoker nabbed in Lucena LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera Game time is at 4 p.m. on Tuesday at Filoil Flying V Centre in San Juan.Quinto and Calvo reportedly planned to transfer to La Salle in the UAAP, where they could have reunited with former Letran coach Aldin Ayo, before finally committing to stay with the Knights.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsThe duo will join forces with guard Rey Nambatac, who is suiting up for Letran for the final time this season.In other games, Jose Rizal U gets the first crack at Lyceum’s improved roster at 2 p.m., while St. Benilde, which is in the midst of rebuilding its program under new coach TY Tang, also makes its season debut against Perpetual Help at noon. Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ View comments
The first look of ABCD 2 is here and boy do things look ready to take off!While Varun Dhawan sports stylishly short hair, Shraddha Kapoor plays his coy lady love. Apart from the two, the original dance master Prabhu Deva is also a part of the film.Varun Dhawan, Shraddha Kapoor in the newly released stills of ABCD 2. Photo: @utvfilmsVarun, as is obvious from the image, plays a waiter, while Shraddha plays a dancer. These pictures are hot off the racks of Filmistaan studio where the two were shooting.Varun Dhawan’s short hair do look stylish. Photo: @utvfilms