‘Baby Blue’ sells properties worth N$200 million
A property development company owned by politically connected businessman Josef Andreas is selling 264 plots valued at N$200 million across the country, after years of concerns about his influence at Grootfontein and about speculative land practices. Andreas, known as ‘Baby Blue’ – derived from the colour of his Range Rover – has for years been […] The post ‘Baby Blue’ sells properties worth N$200 million appeared first on The Namibian .
A property development company owned by politically connected businessman Josef Andreas is selling 264 plots valued at N$200 million across the country, after years of concerns about his influence at Grootfontein and about speculative land practices. Andreas, known as ‘Baby Blue’ – derived from the colour of his Range Rover – has for years been linked to Swapo secretary general Sophia Shaningwa, who used to be the minister of urban and rural development. The businessman, who is also the deputy chairperson of a Swapo company, is selling the plots through his company Tulaing Group.
According to a company flyer saying ‘plots for sale’, the largest portion of the portfolio consists of 150 residential plots about 5km outside Grootfontein. Each plot measures 2.5 hectares and is selling for N$650 000, amounting to a total of N$97.5 million. The company is also marketing an additional 114 properties with an estimated value of N$106 million.
It is, however, the vacant plots that have some commentators fuming. Independent Patriots for Change leader in parliament Imms Nashinge is asking whether the conditions attached to the original land allocation to Andreas were met. He says local authorities and the government should closely examine whether developers have fulfilled the commitments attached to land deals before selling properties for profit.