KZN Business Sense - Flagship Projects offer opportunities for investors:Durban Investment Promotion, eThekwini Municipality
KZN Business Sense - Flagship Projects offer opportunities for investors:Durban Investment Promotion, eThekwini Municipality



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KZN Business Sense - Flagship Projects offer opportunities for investors:Durban Investment Promotion, eThekwini Municipality

2016-04-29

EThekwini Municipality has a large number of flagship projects in the pipeline, which are set to have an impact on the City on a mega scale at a sub-regional, regional or metropolitan scale.

Of significance is that many of the projects will have positive spins offs in terms of generating other projects in the City. The various projects listed as catalytic are also beyond conceptualisation and have sufficient project resources, technical inputs, and commercial or governmental support to progress materially. It is important to note that the impact of these projects is measured by the:-
  • Number of permanent and temporary jobs that will be created
  • Degree to which mixed-use development will be promoted
  • Rates income in the foreseeable future (3-5 years).
Examples of these catalytic projects include the Point Waterfront development, which forms part of the inner city regeneration programme.  Through reclaiming abandoned and derelict buildings, new innovative investment and ideas will be attracted. This project is enhanced by other nearby developments such as the new passenger cruise terminal in final planning by Transnet.

Closer to the urban core, the Centrum site development aims to develop a large new mixeduse precinct. New public service buildings such as the City Library and Natural Sciences Museum, Municipal Complex
and Government Boulevard will be constructed. The City has received a commitment in writing from the National Department of Public Works to relocate all government offices to Centrum Site. Currently the expansion of the Workshop Mall is underway, however opportunities for private investment in restaurants, offices and residential accommodation are becoming available. This node is complemented by large building renovations and reconfigurations underway by private investors such as Propertuity.

The catalytic projects also demonstrate a partnership between the public and private sectors. Cornubia is a successful collaboration between Tongaat Hulett Developments and eThekwini Municipality. The project is the first fully integrated and sustainable human settlement in the region, once of three National Priority projects in the country. The Cornubia Human Settlements project, has a total estimated investment value of R 24 billion in current prices in buildings and infrastructure, is at an advanced implementation stage. The development is envisaged to create about 48 000 permanent jobs and approximately 15 000 construction jobs over a 15 year period. Rates generation will amount to over R 300 million per annum. This mixed income, mixed use development proposes 10 000 private sector led affordable and middle-income units, 15 000 government subsidised units, 2.5 million m2 of commercial/
industrial bulk, as well as a full suite of social facilities.  The Cornubia Business Hub is currently under construction as a stand-alone project, comprising a retail mall and call centre.

With respect to residential development, investors and developers have the opportunity to develop almost 10 000 affordable housing units, ranging from R500 000 up to R800 000.  The project aims to provide close to 2 000 affordable housing opportunities in an area located adjacent to the N2 freeway by 2017, with employer assisted housing underpinning the project as a key concept. This will present opportunities for employers in the area to provide assistance in various forms to their employees
to access a home in an area that is close to work opportunities.

The Warwick Junction project has approximately +/- 450k bulk potential for redevelopment. This project includes:
  • Re-alignment of transport and the trade zone
  • Retail Centre with the upgrade of Berea Station
  • Investment in informal trade 
  • Social housing and student accommodation
The development of the Durban Iconic Tower at the Durban County Club, which will include retail, residential, commercial, and hotel components is progressing.  Internationally acclaimed partners and investors are in advanced negotiations to deliver as envisaged, whilst firm agreements are being finalised between the resident clubs, the City and the Iconic Tower Development Company.

A variety of projects are underway as part of the development of the Integrated rapid public transport network (IRPTN), branded "Go Durban!".  Opportunities are available in Pinetown, Bridge City, Montclair,
and Umlazi. Expression of Interest for interested investors is currently being advertised for the currently vacant and abandoned Umbilo and Congella Sports Club through the introduction of an IRPTN compatible mixed use, high density residential cluster.

Other projects are at various stages of progress depending on progress in obtaining clearances such as environmental authorisations, water-use licences, land-legal issues and the requisite confirmation of budgets. 

For more information contact Durban Investment Promotion, eThekwini Municipality




KZN Business Sense - Flagship Projects offer opportunities for investors:Durban Investment Promotion, eThekwini Municipality

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