The R2-billion first phase, on which construction will start in the middle of 2022, will see the old Corobrik factory site transformed into a business and logistics park. Once the project is complete there will be more than 450 000m² of leasable space. This investment is especially welcome for the property and logistics sector which was badly hit by the riots which took place in and around Durban in July 2021.
A major milestone was reached in November 2019 when Durban’s beachfront promenade extension reached the harbour. This means that residents anywhere in the city can now step onto the promenade, from the harbour in the south to Blue Lagoon in the north. The project began in early 2018 and cost R400-million.
According to the organisers of the 2019 KZN Construction Expo, infrastructure will attract more than R200-billion in investment over seven years and R35-billion will be spent over 15 years at the Port Waterfront development. The King Shaka International Airport and Dube TradePort are also attracting property investments. Two new industrial parks are being developed: Cornubia is part of a larger project near Umhlanga and Clairwood in Durban South will offer more than 300 000m² of A-grade industrial space. Tongaat Hulett Developments (THD) has for some years been rolling out a series of developments on land it owns north of Durban and it has launched the nTshongweni Urban Development on either side of the busy N3 highway west of the city.
KwaZulu-Natal has a number of brick companies and four cement factories. Three of these are run by NPC at Simuma, Durban and Newcastle, and the company has a further six sites for concrete and two for aggregate. NPC is part of the Intercement group. Lafarge has several aggregate quarries and eight Readymix plants around the province. The company’s grinding operation in Richards Bay has closed. The Dolphin Coast continues to attract high-end investors. Seaton, The Bay, in Sheffield Beach Estate, north of Ballito and Simbithi Eco-Estate, distinguishes itself from its neighbours by offering direct access to the beach.
Collins Residential reported R179-million in sales in two months in late 2020, for the first two parts of the development. Owners are expected to take up residence early in 2022. Further south, Zimbali is another estate holding its own in terms of value.
Reasons to invest in Durban
- Extensive first-world road, rail, sea and air infrastructure;
- Dube TradePort and King Shaka International Airport – 60-year Master Plan – driving growth of aerotropolis, or airport city
- Rated in top 5 ‘Quality of Living’ cities in Africa and Middle East by Mercer Consulting in 2015 and 2016;
- Durban was ranked as the least congested Metro City in SA, according to the global “Tom Tom Traffic Index” (TTTI) 2017, at 22% (compared to SA’s most congested City at 35%). 390 Cities in 48 countries were indexed and ranked.
If you are interested to do business, trade or invest in Durban, contact Invest Durban today: