R217-billion investment set to transform eThekwini
The eThekwini municipality aims to propel the city into a new era of prosperity through a R217-billion investment in development projects, which is expected to create 300 000 jobs.
On August 14, eThekwini Mayor Councillor Cyril Xaba, along with the municipality’s executive committee, conducted an oversight visit to assess the progress of projects currently under way and those in the planning stages. The tour spanned the length and breadth of the eThekwini region, covering 16 development sites and future developments sites.
Through the projects, the municipality aims to boost investment and business confidence in eThekwini, which has a major impact on the economy of the city and the KwaZulu-Natal region as a whole.
Beginning in the Durban central business district, the briefing on key projects at various stages of development included the Centrum Site Development, Durban Bay Waterfront, the Point Waterfront, Rivertown, Durban Country Club, Beachwood, Virginia Airport and Durban Film City developments.
In the outer west region of eThekwini, Xaba visited the Giba Business Estate and Shongweni Developments. The Giba Business Estate is a R2-billion development targeted to further unlock the lighting industry, logistics and warehousing sectors, while also providing jobs, work opportunities and improved infrastructure for the communities of Tshelimnyama and the neighbouring areas.
The Shongweni development is a R15-billion long-term investment comprising nine precincts that includes retail, residential, commercial, logistics, industrial and business park precincts. The first phase of the Westown Square retail and lifestyle centre is set to open by April 2025, with the municipality adding that the project “kickstarted the development and interest in the region”.
The Westown Square development was followed by investment in a R2-billion residential development by JSE-listed property developer Balwin Properties. The 2 000-ha development zone will create a new city in the west, which is “rising from the dust”, Xaba explains.
“The transformation of the Shongweni region is something to look forward to in the future,” he enthuses.
In the northern region, Xaba visited the Avoca Node development which is a 15-year programme comprising three precincts, including Brickworks, North Fields and Caneridge, measuring about 350 ha in total. The development has potential capital investment of over R10.5-billion. The upgrade to the old North Coast Road is also under way to accommodate increased traffic in the area.
Further north, in the oThongathi area, Xaba was briefed about the R6-billion Whetstone Business Park and further development in Cornubia, at the Dube Trade Port, Sibaya Coastal Precinct and Oceans Mall.
The Sibaya Coastal Precinct is situated in the north of Durban, within the city’s Aerotropolis region. It has seven nodes of mixed-use developments with a range of land uses to contain offices, retail, restaurants, educational institutions, recreational opportunities and residential offerings. With an estimated investment value of R48-billion, the project is expected to continue until 2036 and create 70 000 jobs.
Xaba noted the positive impact of the R5-billion Oceans uMhlanga development, which has resulted in improved road infrastructure and enhanced the tourism value offering within the node. Further, the urgency in finalising the implementation of a public transport facility to service the wider uMhlanga area was highlighted during the tour.
These projects, along with other investment opportunities, prove that Durban is a business destination of choice, says the municipality.
“This indicates that the plans we have put in place to attract investment are yielding positive results. We are working hard not to prolong the R217-billion investment in catalytic projects that are in the pipeline. When cranes are swinging and yellow plant [equipment] moving, people’s hopes are revived. We are happy that Durban has become a construction site and it clearly shows that we are open for business,” Xaba concludes.
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