Businessman Josef Andreas sells N$200 million in properties amid scrutiny over land deals
via The Namibian4 min read
Josef Andreas, a businessman known as 'Baby Blue' and deputy chairperson of a Swapo company, is selling 264 plots valued at N$200 million through his company Tulaing Group. This move comes after years of concerns regarding his influence in Grootfontein and speculative land practices. The portfolio includes 150 residential plots near Grootfontein, each measuring 2.5 hectares and priced at N$650,000, totaling N$97.5 million. An additional 114 properties are also being marketed with an estimated value of N$106 million. Imms Nashinge, leader of the Independent Patriots for Change in parliament, questioned whether conditions attached to the original land allocation to Andreas were met, emphasizing that developers should fulfill commitments before selling for profit. Former Grootfontein local authority Elizabeth Kastoor stated that she bought land from Tulaing Group but did not receive the advertised infrastructure, and homeowners faced difficulties obtaining completion certificates due to unsettled rates and taxes by Andreas. Andreas, who sought relief from the municipality for a N$3.5 million debt, stated that property development and sales have been his business foundation since 2013 and that the current sales are not an indication of him leaving the sector. He mentioned that some proceeds might be used to expand his cattle holdings. Grootfontein acting chief executive Indileni Lungameni confirmed that Tulaing Group acquired 73 hectares of land for N$4.2 million, which he said r
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This summary was AI-generated from a story originally published by The Namibian.
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