A further natural demand exists among employees of

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A further natural demand exists among employees of corporates who have located their head offices in Ezulwini. The four phases of Ezulwini Eco-Estate require a peak cash flow requirement of E50 million. The envisaged loan period would be for a period of 12 months. Project Details Title Deed Information : Portion 10 of Farm 51 Ezulwini, Hhohho District. ( See Valuation electronic version submitted with this document). Merelava currently has a sale agreement with the property owners . (See Appendix ?) Location The subject property is well located along Nyonyane Road in Ezulwini Valley. The site is in close proximity to the recently expanded Gables Shopping Centre and Corner Plaza Centre. Recent development indicates that there is a good demand for commercial, retail and residential accommodation in the Ezulwini Valley Node. The node is well established with good infrastructure and services in place and capacity for future growth is available. The node has all the necessary amenities in place. Demand Research has indicated that there is a good demand for commercial and residential accommodation. The current population is estimated at 2,455 and it was noted in the Ezulwini Town Council Survey that there are approximately 2,000 people commuting into Ezulwini Valley on a daily basis for work. The recent development of the ICC, MTN and the American Embassy indicates there is good demand for development in this node. In discussion with the owners of the nearby Gables Mall it was noted that they are planning to expand the current development to 10,000 m2 in the near future indicating again growth in the node. Ezulwini is home to Swaziland’s biggest shopping center ‘The Gables”. A recent study of ‘The Gables” showed that 29,000 vehicles pass through the center over the course of a weekend.
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EZULWINI ECO ESTATE A DEVELOPMENTBY MERELAVA 17 | P a g e Below we have some statistics with regard to population, household growth and housing development types within the Ezulwini Valley node. This research was extrapolated from the Ezulwini Town Planning Scheme dated November 2014. The fact that there are only 491 residential properties in the node, indicates that the average household size is approximately 5 residents, this is regarded as high. This indicates a shortage of residential accommodation in the node. The fact that approx. 2,000 people commute into Ezulwini Valley daily, further substantiates the demand that exists for residential accommodation.
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EZULWINI ECO ESTATE A DEVELOPMENTBY MERELAVA 18 | P a g e The Table below provides details with regards to existing types of residential stock in the node. The table above clearly indicates a shortage in the medium to high density residential developments, hence there should be a good demand this development.
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EZULWINI ECO ESTATE A DEVELOPMENTBY MERELAVA 19 | P a g e Recent Sales in Ezulwini as a Comparison Seeff Swaziland have provided us with some relevant market research on recent sales in
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