THE BIGGER PICTURE - DURBAN'S GOOD NEWS
Category Durban Property Market
Investment into the future! Club Med chooses Kwazulu-Natal North Coast as its first footprint in South Africa - just one more multi-billion-rand development that's underway.
In the world of news, bad tidings often spread like wildfire, while the good stuff can sometimes take its sweet time. But if you've been feeling like there's been a lack of momentum in KwaZulu-Natal, it's time to reassess your perspective. While the global pandemic may have temporarily stalled various projects, the landscape in KZN is buzzing with activity, albeit somewhat under the radar.
Monumental mixed-use, commercial, and industrial developments are sprouting up across the province, promising not only an economic boost but also a surge in job opportunities and a catalyst for tourism. Durban, in particular, has some thrilling news to share, with significant investments already in motion or poised for action. Let's delve into a taste of just eight of these remarkable developments:
Club Med Tinley: Breaking news - introducing Club Med Tinley on the KZN North Coast, a whopping investment exceeding R2 billion and the country's very first Club Med resort. In collaboration with the Collins Residential Consortium, this all-inclusive resort is set to create a multitude of jobs and sustainable growth opportunities. With over 800 direct jobs and an additional 1,500 indirect jobs expected, not to mention employment opportunities for around 1,200 construction workers during the project, this is a game-changer.
Construction is set to commence in early 2024, with the grand opening scheduled for July 2026. What makes this project even more exceptional is the partnership between Club Med and Agrisud, a distinguished non-profit organisation committed to nurturing local businesses within the resort's supply chain, driving inclusive growth in the community, and supporting sustainable livelihoods. And there's more to this than just beach vibes; guests will have the chance to experience a Big-5 Game Reserve, just a short 3.5-hour road trip or a swift 40-minute flight away from the resort. An 80-room lodge, built to Club Med standards, will provide guests with the ultimate beach and safari experience.
Westown Development: The wheels are in motion for this R8 billion investment, poised to create approximately 8,500 jobs. Spanning 2,000 hectares, this mixed-use project aims to create a thriving economic hub in the outer west area of eThekwini. It boasts lifestyle and tourism-based facilities, new lifestyle estates, high-quality office and business parks, freight and logistics infrastructure, as well as golf, equestrian, and leisure facilities.
Cato Ridge Freight & Logistics The Cato Ridge Dry Port is a R18 billion project to be rolled out over the next 25 to 30 years and is comprised of an interim rail terminal to handle approximately 90K TEUs per annum, to be expanded to a fully-fledged dry port intermodal facility with capacity to handle 500K TEU; a truck stop and staging facility to accommodate 300 parking bays with all ancillary support structures for drivers, as well as vehicle maintenance and testing; logistics parks to accommodate warehousing, freight handling logistics and freight preparation facilities; an industrial park to accommodate manufacturing opportunities presented by its close proximity to the Dry Port and Logistics land uses; and in the longer term a tank farm as a strategic fuel storage facility.
Oceans uMhlanga: Set to unfold between 2015 and 2023 and located in the prime tourism node of uMhlanga Rocks Village, this development boasts a total investment of R4.2 billion. It is considered a municipal catalytic project due to its expected positive socio-economic impact. The vision is to create a staggering 21,200 jobs and generate annual revenue of R34.4 million.
Avoca Nodal Development: Comprising three precincts along the N2 corridor, including Brickworks, Northfields industrial developments, and Caneridge residential development, this ambitious project carries an investment of R10.1 billion spanning 15 years. Anticipated outcomes include 51,500 jobs and city revenue of R120 million, with the City's contribution amounting to R450 million.
Automotive Supply Park: Nestled in Illovo, south of Durban, this 1,000-hectare industrial park is valued at R3 billion. Upon completion this year, it will create 2,800 jobs. The park aims to centralize production, assembly, sequencing, and warehousing facilities for automotive suppliers, bringing them closer to Original Equipment Manufacturers (OEMs) such as Toyota.
Centrum: A massive project spanning 54 hectares, facilitated by the eThekwini Municipality. This venture, with an investment value of R11.5 billion, will unfold between 2024 and 2030. It's divided into 10 precincts as per the Urban Design Framework and is expected to generate a staggering 70,000 jobs. While finer details are yet to be released by the City, this project is certainly one to watch.
Cornubia: Operating under a public-private partnership framework, this is a large-scale mixed-use, mixed-income integrated human settlement project initiated by the eThekwini Municipality. Over a 30-year period, it will witness an investment value of R25.8 billion. Expected outcomes include the creation of 53,000 jobs, city revenue of R237 million, housing solutions for 40,000 people, and the generation of 15,819 temporary jobs.
Virginia Airport Site: Owned by the City and designated for a remarkable R10 billion investment, set to commence between 2025 and 2030. The plan is to redevelop the airport site for mixed use, incorporating high-end residential and commercial elements, ultimately creating 10,000 jobs.
And that's just the tip of the iceberg, with many more exciting developments taking shape throughout the province. This surge in development is precisely what KwaZulu-Natal needs, whether it's a long-term strategic project aimed at alleviating port congestion or a short-term tourism offering that will elevate KZN's already alluring trifecta of bush, beach, and berg tourism. The future of KwaZulu-Natal is shining brightly, and the best is yet to come!
Author: Myles Wakefield
