Coast KZN

28 Mar 2018

Construction begins on Durban’s R35bn waterfront development

Nosipho Nyide (Daily News) Picture: Mayor of eThekwini Zandile Gumede gets her hands dirty during the sod-turning ceremony for the new beachfront promenade extension. (Picture: Doctor Ngcobo/African News Agency (ANA))

Construction on the multi-billion rand Durban Point Development project kicked up a gear after eThekwini Mayor, Zandile Gumede officially turned the sod for the R300 million beachfront promenade extension.

The ceremony took place at the Sand Pump Station on the beachfront on Tuesday and included city manager Sipho Nzuza and Bevarah Soban, an international investor from Malaysia.

The city said the beachfront promenade extension that will link Vetchies beach with the rest of the promenade is the catalyst to the R35 billion Point Waterfront development which will be undertaken in three phases over the next 15 years.

Gumede described the project as a good example of what could happen when the government worked with the business sector to change the city.

She said the project was only the beginning of broader projects that would shape and position Durban as a global city. Nzuza agreed, saying the project would attract new foreign investment and enhance the city’s tourism profile.

“We are proud of the promenade extension and are confident it will attract foreign investments,” Nzuza said.

Gumede anticipated that the development would make a huge impact on the rates revenue and the GDP, which would contribute to improving the overall quality of living in the city.

She estimated that during the construction phase of the development 11?000 jobs would be created and approximately 6?750 permanent jobs would be created.
In addition,the city was expecting local existing property values in the area to increase by approximately 10% and the overall central business district property values to rise by 5% because of the development.

Soban estimated investments into the project over the span of 15 years to be R35 billion.

The extension of the promenade was part of a master plan which, when completed, would benefit the general public and beachgoers.
Nzuza described the extension of the promenade as a chance for more people to run along the Golden Mile, which will now be longer, exercise or relax in a new, safe space.

On the issue of soil erosion at the beachfront, Nzuza said: “We are working closely with our partners, Transnet, to find a long-term solution to continue to pump sand more effectively to the shore to make sure that our beaches are not destroyed.”