- Catalytic Project: Category A (in or near implementation)
- Area: Inner City
The new vision for the Point Development is predicted on maximising the use of the area, both by permanent residents and temporary visitors. This will be achieved by:
- A network of vehicular and pedestrian connectivity that will link to and extend the existing beachfront promenade along Vetch’s beach and around the harbour.
- Multi-storey structures offering residential, office, retails and leisure developments.
- Multi-modal public transport access aligned to eThekwini’s Integrated Rapid Public Transport Network (IRPTN).
- Mahatma Gandhi Precinct Urban Management programme.
- Cruise Terminal and promenade extension.
Contact Invest Durban to discuss the most recent update regarding opportunities available in this prime development.
- High-intensity urban mixed-use
- Prime mid-market housing
- Premium and A-grade offices and businesses
- Opportunity for hotels
- Investment Value: R40-billion
- Annual Rates: R200-million per annum
- Construction Jobs: 11 000
- Permanent Jobs: 6 750
- Other: Tourist attractions, urban design upgrade, economic spin-offs, upgraded bulk infrastructure
- Infrastructure to support phase one of the development is underway (internal road layout and waste water infrastructure relocation, water reticulation infrastructure and promenade extension.
- Negotiations to align with the cruise terminal plan currently in process with Transnet.
- Programme for Mahatma Gandhi Road and back of Beach has been developed (to resolve security, maintenance and dilapidated buildings) in order to coincide with the launch of Point Waterfront.
Key issues / challenges
- Possible future construction delays due to extreme wave action on coastline.
- Unpredictable raw material costs due to the rand dollar fluctuation.
- Urban management issues associated with Mahatma Gandhi and back of beach precinct are likely to affect the project if not addressed by launched date.
Response and way forward
- Point Waterfront Project to be launched in April/May 2017.
- The cruise terminal will commence in February 2017.
- The promenade design will be complete by February 2017.
- The water infrastructure project is underway and the Extension to promenade to commence by March 2017.
Contact / enquire
For the most current update on opportunities, project progress, outstanding actions and investment requirements, contact Invest Durban.