Durban Bay Waterfront Development
Project background
The Durban Bay Waterfront development is a project being run by the City of Durban, Transnet, Ithala Development Finance Corporation Limited and KZN EDTEA due to the land being owned by these organizations.
Transnet has recently completed the Port of Durban Master Plan, which details the plans that Transnet has for the precinct. These plans require multiple phased investments with support from the city.
The Port Master Plan supports the Waterfront Development and of significance is the impact that the port expansion will have on the transport infrastructure along the waterfront on Margret Mncadi corridor due to the increase in cargo handling and distribution and to align with future plans for IDFC Limited.
Project description
The Durban Bay Waterfront is located between the Durban CBD in the north and Durban Bay in the south with the Sugar Terminal marking its western extremity and T-Jetty its eastern extremity. The proximity of the Bay to the dense, high rise back drop of the city makes for a very dramatic interface zone, one which visually and very powerfully confirms Durban’s key role as a port city.
The Waterfront forms part of the City’s initiative to redevelop and regenerate the inner-city, as per the Inner-City Local Area Plan and Regeneration Strategy.
The development of the waterfront could result in:
- The promotion of a world-class tourism, water sport and recreation venue
- The establishment of a productive, diverse, and appropriate Waterfront Development with maximum public access and involvement
- The introduction of viable commercial development opportunities
- The improvement of positive linkages and interactions between the Yacht Basin and the Inner City
Investment value
- To be determined through a feasibility study.
Project funding
- Sources of funding to be concluded.
Funding gap
- Funding for professional services, pre-feasibility and feasibility studies and infrastructure upgrades.
Incentives available
- Economic Development Incentive Policy 2022/23- Inner City
No. of jobs to be created
- To be determined through a feasibility study.
Project Status¹
A report on the Durban Bay Waterfront concept framework plan and a request to mandate the City Manager to enter into a Memorandum of Agreement with Transnet / Ithala Development Finance Corporation and KZN EDTEA has been submitted for Council approval by end of March 2023.
The City is working together with Transnet, Ithala Development Finance Corporation Limited and KZN EDTEA.
Council approved the Concept Development Framework on 30 March 2023. An MOA between the City, Transnet, IDFC and KZN EDTEA is being finalised to take the project further.
Next steps:
- MOA to be finalized once budget split is confirmed.
- Appointment of Project Director by Steercom
- Scope of work for pre-feasibility to be finalised once the Project Director is appointed.
- Project timelines to be determined at Feasibility stage.
Regulatory requirements of the project
The catalytic land development forms part of the eThekwini Municipality’s Package of Plans, therefore, aligns with the approved and Point Precinct Plan; Inner-City LAP; the eThekwini Municipality: Planning and Land Use Management By-Law, 2016: Decisions on Land Development Applications; and the Integrated Development Plan.
Partnerships
The project is undertaken jointly by the City, Transnet, IDFC and KZN EDTEA and to go into partnership with a Private Developer.
Broader opportunities
The project will transform the Durban Bay precinct and will become a much-needed tourist hotspot which will result in the wider regeneration of the Inner City.
Contact the project team:
Potential investors / property developers interested in this project are encouraged to contact the project team with a brief introduction:
¹ At time of publication (2024). For further updates, please contact the project team.
