Urbanova — Implementation Roadmap
The phased implementation roadmap and the milestones underpinning Urbanova.
Section 19 · Business Plan
Implementation Roadmap
The phased implementation roadmap and the milestones underpinning Urbanova.
The programme spans financial close in mid-2027 through
exit-readiness in FY2031. Critical-path dependencies: capital raise
precedes Phase 1 land assembly at scale; rezoning and bulk-services
approvals gate construction start; Phase 1 stabilisation evidence
(occupancy ≥90%, collections ≥97%) gates Phase 2 debt drawdowns; and
refinancing/capital-markets readiness gates exit.
| Milestone | Target date | Dependency |
|---|---|---|
| Financial close (equity + senior facilities) | Jun 2027 | Anchor DFI commitment; named executive team |
| Phase 1 land assembly complete | Sep 2027 | Financial close |
| First 1,200 units income-producing | Dec 2027 | Construction start Apr 2027 |
| Phase 1 stabilisation (≥90% occupancy) | Jun 2029 | Lease-up engine; tenant app live |
| Phase 2 construction start (CPT/DBN) | Jul 2028 | Phase 2 approvals; Tranche 2 debt |
| 12,500 cumulative units | Dec 2030 | Phase 2 delivery |
| Amortisation commences — DSCR watch period | Jan 2029 | Grace period expiry (Finding 2) |
| 20,000 units; portfolio R18.8bn (sponsor FV) | Dec 2031 | Phase 3 delivery |
| Exit preparation (REIT listing / trade sale) | FY2031 | Audited stabilised NOI; refinancing |
Confidential — this business plan is provided to prospective investors and lenders for evaluation purposes only and may not be reproduced or distributed without the written consent of Urbanova Living Developments (Pty) Ltd.