Our idea to provide affordable housing started because of our Real Estate company; Aida Prospur. We were doing rentals for years in Mitchells Plain which is densely populated area. We then realized that we could not accommodate people in a certain income bracket as the minimum rental in the area was way above what some people could afford.
This is where our Founder formed Povicom to specifically cater for the low to middle income bracket house holds and this was the cause for inception of our first project Regent Villas.
Povicom was started in 2014 and the Regent Villas project was created with the intention of building 104 units within a plot of 4048m2.
This is the plans of the building approved by the City of Cape Town.
With the Site Development plans approved, site clearance and security fencing was erected in July 2018 in preparation for construction.
In August 2018 we had the Launch of the project and we had Bonginkosi Madikizela (Minister of Human Settlements), Ighsaan Higgins (Board of Director of the SHRA), board members (Riyard Abrahams – Founder, Salaamah Cassiem – CEO, Zaeem – Chief Finance Officer), Khamiela August (Director of Department of Human Settlements, Western Cape Government) and regional manager of NHFC as well of Member of City of Cape Town and The Western Cape Province were present.