Citra News
Frankfurter Allgemeine: The Gap Widens in Cape Town
Frankfurt, 3.10.2024
Frankfurter Allgeimeine Zeitung, a renowned German newspaper, has featured Citra in an article about Cape Town’s severe housing shortage.
The article examines the growing housing divide in Cape Town, South Africa, where skyrocketing property prices have made housing increasingly unaffordable for many residents. Against this backdrop, the piece highlights Citra’s approach to addressing the housing crisis through its Blue Downs development.
The article illustrates the stark contrast in Cape Town’s property market, where luxury villas change hands for millions of euros while many struggle to find affordable housing. In this context, Citra, co-founded by Joel Baur, emerges as a company working to bridge this gap. Their Blue Downs project serves as a notable example of efforts to create affordable housing solutions.
Citra plans to construct 4,000 homes, along with a school, shopping center, and employment opportunities. The company has developed a proprietary building technology which promises both sustainability and cost-effectiveness.
The article details the numerous challenges faced by companies like Citra, including complex bureaucratic processes and a difficult financing landscape.
To illustrate the impact of such projects, the article features the story of the Mtiki family, who transitioned from a backyard dwelling to owning their own home in Blue Downs. This personal account demonstrates the real-world benefits of affordable housing initiatives.
The piece concludes by suggesting that experiences gained from projects like Blue Downs could serve as a model for addressing housing needs not just in South Africa, but potentially in other parts of the world, highlighting the broader implications of innovative approaches to affordable housing.