Explore GEN family of websites, social media experiences, blogs and more.

Unleashing ideas.
Strengthening startups.

Back to search results
    Date submitted
  • 15-May-2017

Real Estate Development

Abstract

Population of 1,271,628 in Soweto, numb of households 355,331.Customers seek affordable properties to rent. We got lease Agreements to build Backyard Housing in Landlord Space.South African cities, especially the metros, are experiencing increasing in-migration of rural people who have a variety of housing needs. Better understanding of what constitutes housing demand, where housing can best be situated and how households’ tenure choices and locations change over time will make it easier to plan for future housing needs, improve delivery and provide relevant housing stock in relevant location.The number of households in Soweto will increase by more than a third every decade between 2011 and 2030.The number of households will increase by 34% (from 355,331 to 1 220 812) between 2011 and 2020 and by 31% (from 1 220 812 to 1 610 020) from 2021 to 2030. We offer Quality service using low cost material to our Market. We have 21 signed Lease Agreement from Landlord and still continuing to collect more to reach our target with 1000 Tenants at Standby to Rent our Properties. Landlords are happy and keen to work with Power Rex Construction. Our Properties are attractive to our Target Market.We Planning to start with the first 21 signed Lease Agreement to building in June, which will accommodate 147 Tenants by August. By September we would have reached our Target of 142 signed Lease Agreements with Landlords in Soweto. We Planning to Buy or Lease more Lands in Soweto to grow.

Additional Questions

Who is your customer?

Permanent worker in Soweto single or couple earning R5000.00 from 26 years age.

What problem does this idea/product solve or what market need does it serve?

We bring affordable Rent Property to our Customers.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

We have a demand of tenants looking for accommodation to rent, and have Lease Agreements with Landlord to develop Accommodation for our tenants.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

We work with local supplies who gave cost efficient service and glued to our Project program.