STUDENT FUNDING
Wits to develop land in bid to boost revenue
University will also lease two properties in central Johannesburg in a bid to stem a shortage in student accommodation
The University of the Witwatersrand (Wits) is looking to generate R100m in revenue from a potential partnership with the private and public sectors to develop its 300ha estate in the north of Johannesburg. The university would also lease two properties in central Johannesburg in a bid to stem a shortage in student accommodation, vice-chancellor Adam Habib said. Wits is looking for a private partner to develop its 300ha Frankenwald property, situated next to Kelvin near the N3 Marlboro offramp in Midrand, which would eventually become a source of income. Frankenwald was the subject of an ownership dispute, with Wits declared the rightful owner of the estate. "Our big plan is to develop it [Frankenwald] together with public and private partners to get annuity income hopefully in the region of R100m a year, which down the line we will deploy for students," Habib said. The deadline for proposals to develop the Frankenwald land will close next Thursday. Universities such as Wits receive ...
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