The municipality of eThekwini is set for billions of rands of investment in development projects that is expected to catapult the city into a new era of prosperity.

Around 300 000 jobs are expected to be created by these multi-billion projects.

eThekwini Mayor Cyril Xaba led the executive committee on an oversight visit to the projects on Wednesday, August 14, to be updated on the progress of the R217 billion investment developments that are under way and those still being planned.

He travelled the length and breadth of eThekwini region to view the 16 developments and sites at which future developments will be taking place.

“These catalytic projects act to boost investment and business confidence in eThekwini. It will have a major impact on the economy of the city and the KwaZulu-Natal region as a whole, creating thousands of jobs and boosting the city’s rates base,” said Mr Xaba.

Beginning in the Durban CBD, the mayor was briefed on the Centrum Site Development, Durban Bay Waterfront, the Point Waterfront, Rivertown, Durban Country Club, Beachwood, Virginia Airport and Durban Film City developments, each at different development facilitation stages.

In the outer west, Mr Xaba visited the Giba Business Estate and Shongweni Developments.

The Giba Business Estate is a R2 billion development targeted to further unlock the light industry, logistics and warehousing sectors of the economy, whilst at the same time providing job, work opportunities and improved infrastructure for the communities of Tshelimnyama and the neighbouring areas.

The Shongweni development is a R15 billion long-term investment which comprises nine precincts made up of retail, residential, commercial, logistics, industrial and business park precincts. The development of the retail and lifestyle centre called the Westown Square, kick started the development and interest in the region. This first phase will officially open by April 2025, the mayor said.

“I am excited at the growth and potential of the outer western region. The transformation of the Shongweni region is something to look forward to in the future. The Westown Square development served to boost the confidence in the region and was followed by the investment of a R2 billion residential development by Balwin Properties. The 2000 hectare development zone will create a new city in the west, which is rising from the dust,” said Mr Xaba.

In the northern region, Mr Xaba visited the Avoca Node development and learned of new investments on site. The Avoca Development Node is a 15 -year programme consisting of three precincts; Brickworks, North Fields and Caneridge measuring approximately 350 hectares in extent which has the 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.

In the oThongathi area, north of Durban, Mr Xaba was briefed about the R6 billion Whetstone Business Park and further development in Cornubia, 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 consists of seven nodes of mixed-use developments with a range of land uses to contain offices, retail, restaurants, educational institutions, recreational opportunities and more, to complement a residential offering. The full development has an estimated investment value of R48 billion and will continue to 2036. It is expected that 70 000 jobs will be created, the Mayor said.

“These catalytic projects and many other investment opportunities prove that Durban is a business destination of choice,” said Mr Xaba.

“The leadership of the city are thrilled by the developments that the city is implementing in collaboration with the private sector. 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. We are happy that Durban has become a construction site and it clearly shows that we are open for business,” said Mr Xaba.

#property-investment

City opens leasing opportunities

Multi-billion rand developments under way across city