Zulu Royal Household Trust eyes student accommodation investment project

WITH the need for student accommodation being a pressing issue across the province, the Zulu Royal Household Trust is seeking to take the gap in the property market and boost its finances.

- THAMI MAGUBANE

The Trust recently appeared before the KZN Legislature's Finance Committee, where it outlined its plans to become self-reliant. In a desperate hunt for business activities that could generate revenue and ensure financial stability, it announced plans to enter the student accommodation market, citing immense revenue potential.

The trust informed members of the Finance Portfolio Committee that it aims to invest in student accommodation, with plans to provide close to 2 000 beds for students in various areas across the province. The project will require approximately R300 million to finance.

However, Finance Committee chairperson Mthandeni Dlungwana said while the trust had revenue-generating ideas, it failed to execute on these plans.

The trust is under immense pressure to generate its own revenue, enabling it to manage its affairs independently of the government. Established years ago for this purpose, it has yet to deliver on its mandate.

Sipho Buthelezi, Chief Financial Officer of the Royal Household Trust, informed the committee about the efforts being made to make the trust financially active.