CMIG unit starts project in S.Africa

China Minsheng Darwin Technology Group (CMIG Darwin), a subsidiary of investment conglomerate China Minsheng Investment Group, launched the John Dude New City project in South Africa’s Gauteng province on Wednesday, marking its entry into Africa’s affordable housing market.

CMIG Darwin will build 18,000 affordable homes, public rental units and commercial properties as well as other public facilities in the John Dude New City, one of the 31 Mega City Projects launched in Gauteng that will improve infrastructure and create jobs for local residents.

The entire project will include properties built using CMIG Darwin’s prefabricated construction technology, with an estimated investment of $2.45 billion.