Camelthorn Business Ventures says it will build 329 residential units mounted with photovoltaic panels for the production of electricity, in Outapi in the Omusati Region.
Construction of the units, described as innovative, environmentally sustainable and highly efficient, from the inspired drawing boards of top Italian architects, is scheduled to kick off by the end of the year.
Camelthorn Business Ventures (Pty) Ltd (CBV) is a Namibian company established in 2011 to develop “impact investment modules in the fields of real estate and infrastructure”, according to the company.
Luca Coltro, founder and director of CBV, says this is the first Namibian development that will supply all residential units with photovoltaic panels to generate electricity.
Coltro said in a recent interview that approval was obtained to commence the project in Outapi’s Extension 11.
“Extension 11 itself will be built in three phases. Phase one accounts for more than 100 residential units and 5 000 square metres of commercial and business two-storey buildings,” said Coltro.
Extension 11 is a mixed development with free-standing residential units, general residential (sectional title), commercial and office units, and public spaces.
Nonetheless, the houses will still be connected to the Nored grid and benefit from the net metering scheme.
Coltro said the development will be serviced with tarred roads, street lighting and storm water canals.
The houses will have 1.2m deep foundations to give them full robustness and will be constructed by Nexus Contractors.
About 300 to 400 people will be employed on the project once construction commences.
“Close to the current development we will build a school of excellence, which will host higher education courses managed by Namibia’s top educational institutions, with the support of the University of Ferrara (Italy),” said Coltro
Coltro has 15 years’ experience in infrastructure project valuation and management. Previously he was a senior consultant at Bain & Company in the company’s Boston and Rome offices. He holds a MBA in finance (Wharton School, Philadelphia, US) and a bachelor’s degree in economics and statistics (University of Torino, Italy).
The master plan for the project was designed by Ipostudio Architetti, a leading Italian architectural firm with 30 years’ international experience, together with SPC, a premium urban planning consulting firm in Namibia.
The layout mixes some features of the European tradition, for example the piazza, with more standard Namibian designs.