Eskom sells 2 buildings to Human Settlements Dept for R76m; plans more sales

It said that the sale of the two high rise office buildings in Johannesburg and Kimberley had raised just over R76 million.

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JOHANNESBURG - Eskom has announced the sale of two buildings to the Human Settlements Department which it said would help alleviate some university student accommodation pressures and assist in social housing.

It said that the sale of the two high-rise office buildings in Johannesburg and Kimberley had raised just over R76 million.

The embattled power utility said that it planned to raise R2 billion from the sale of non-core property.

Eskom's Sikonathi Mantshantsha: "These properties were previously utilised as regional offices in Johannesburg and Kimberley and staff have been moved to other locations as part of Eskom's drive to optimise space and derive maximum value from its extensive property portfolio."

Earlier this year, Eskom admitted that an incomplete housing project in Mpumalanga that ballooned to nearly over R1 billion over a decade was a great waste of taxpayers' money.

READ: Eskom admits incomplete R840m housing project a waste of taxpayers' money

The De Wilge residential development project started with a budget of R160 million back in 2008 - it's over 300 flats were meant to accommodate workers who were building the Kusile power station.

In 2019, the project's costs ballooned to a whopping R840 million and was stopped while the workers were housed at expensive B&Bs.

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