Sod turned for new student accommodation at UKZN
The sod turning ceremony for the R800 million student accommodation took place on Monday November 18. This project is said to be the largest accommodation project in eThekwini and is being built at the University of KwaZulu-Natal (UKZN) Howard Campus.
eThekwini Municipality Mayor Councillor Cyril Xaba has welcomed the new student accommodation which is currently under construction. During the launch on Monday, the Mayor described the project as a great milestone which will transform student life in the city.
The accommodation will have 2 000 beds which is going to significantly contribute towards alleviating housing shortage for students in the city. During peak construction phase, the project will create about 1 200 temporary jobs and 50 permanent jobs post construction, Mayor Xaba said. He applauded Growthpoint Properties, Thrive Student Living and UKZN for collaborating with eThekwini Municipality in the planning of this project.
“This is indeed a major step forward for us in our effort to attract investment in the city. A few years ago, the municipality proclaimed this area as a student accommodation precinct. This project is the first development of its kind in this precinct and the biggest student accommodation investment in eThekwini,” he said.
He added that the development has a great potential not only in turning around economic fortunes, but also in transforming the city’s skyline. He said he trusts that this development will entice more student accommodation investors in this precinct.
“What makes the project even more exciting to us and the residents of eThekwini is that once it is completed in two years, the city will be able to derive rates income from it. This is a welcome boost to our coffers and will enable us to continue creating a conducive environment for business to thrive in eThekwini. We will invest some of this money in improving our infrastructure”, Mayor Xaba said.
Apart from the economic benefits to the city, the Mayor said that such projects give hope about the future of eThekwini. He added that they demonstrate that both government and the private sector are working together to improve the living conditions of people.
“We want to indicate that this investment has come to our shores because we have demonstrated beyond reasonable doubt that Durban is truly open for business and investment. This speaks volumes about the sterling work we are doing to facilitate the ease of doing business in the city and elevate Durban as a premier investment destination,” Mayor Xaba said.
