1 338 apply for Rocky Crest plots
04 March 2020 | Infrastructure
The City put 231 plots up for sale, opening the potential for first-time land ownership to young people through the sale of 46 plots exclusively to them, while another 46 were reserved for City staff members.
The remaining 139 plots were sold to the general public who did not fall in the first two categories.
The number of applications was confirmed by City spokesperson Lydia Amutenya.
Giving a breakdown of those who participated in the bidding process, the municipality said 79 municipal employees participated, while 516 bids were received from youth.
A further 733 bids were received from the general public, while 10 bids were received for general residential plots. In total, including bids from City staff members, 1 338 applications were received.
Bidders were required to pay an upfront non-refundable registration fee of N$2 500, bagging the municipality N$3.34 million in revenue through the auction alone.
Bidders now have 90 days to comply with sales conditions, at which point the City will know how much money was raised by the auction, Amutenya said. The youth plots had an upset price of N$240 800 each.
“The City will have another auction that will be open to everyone, where it will sell 131 plots.”
On the first day of auction, the City made 92 of the 231 plots available to the youth and its employees.
One of the plots, priced at N$257 600, was sold for N$408 000, while another, with an upset price of N$345 600, was sold for N$602 500.