Lindwe Sisulu, minister of human settlements, cuts the ribbon for the sample house built by CMIG Drawin, at Ekurhuleni in Gauteng province, South Africa.
China Mingsheng Drawin Tech to use South Africa experience in B&R markets next
China Mingsheng Drawin Technology Group Ltd, a Hong Kong-based investment holding company and a high-tech manufacturing enterprise, launched its first housing project in Gauteng province of South Africa last month.
The .6 billion overseas project, which is expected to be completed over the next ten years, marks yet another milestone for the subsidiary of China Minsheng Investment Group.
The latest venture is aimed at meeting demand for accommodation brought by development and urbanization in South Africa.
For long, CMIG Drawin's focus has been on businesses like property investment and prefabricated construction engineering.
It is known for building technology parks in Guangdong, Zhejiang and Hunan provinces in China. Its own subsidiaries operate and manage assets like properties.
Founded in 2014, CMIG Drawin now focuses on the whole industrial chain of prefabricated buildings, and boasts 1,300 patents in the field.
It plans to help build 18,000 houses in 10 years for immigrant poor population in John Dube New City project under construction in Gauteng, South Africa's richest province, as they lack sufficient living spaces and a safe living environment.
The project includes public rental apartments, commercial residential buildings and supporting facilities, including schools, hospitals and shopping malls with a total area of 497 hectares.