The Development Bank of Southern Africa (DBSA) on Tuesday signed a R90-million long-term loan facility to fund the construction of a new student village at the Durban University of Technology (DUT) campus.
The development would offer 804 beds and would enable DUT to provide accommodation for some of its students who are currently living off campus.
DBSA South Africa financing division group executive TP Nchocho said the loan facility formed part of the bank’s strategy of modernising administrative and learning facilities, while also dealing with significant backlogs in student accommodation, at many contact universities in the country.
The DBSA noted that the current backlog of student accommodation at South Africa’s 22 contact universities was estimated to be 195 815 beds, which would cost about R82-billion.
By: Leandi Kolver