Wednesday, April 24, 2024
spot_img
HomeTradeInvestAfricaInvest DurbanInner-city redevelopment project: Gugu Dlamini Sub-Precinct

Inner-city redevelopment project: Gugu Dlamini Sub-Precinct

It is expected that part of the Gugu Dlamini Sub-Precinct will be tendered to Private Developers to develop mixed-use facilities with the objective of improving urban connections, economic viability, public efficiency, and productivity through clustering of government services and various mixed facilities.

Redevelopment of the Centrum: Gugu Dlamini Sub-Precinct

Project description

The project forms part of the City of Durban’s initiative to redevelop and regenerate the inner-city. Centrum Precinct: Gugu Dlamini Sub-Precinct Development Site Project is a catalytic land development project located in the inner city and has remained under-developed over the last two decades.

It is expected that part of the Gugu Dlamini Sub-Precinct will be tendered to Private Developers to develop mixed-use facilities with the objective of improving urban connections, economic viability, public efficiency, and productivity through clustering of government services and various mixed facilities.

The development needs to be complimentary to existing investments that surround it, such as the ICC/DEC Campus, to ensure their continued growth and sustainability.

The development site covers 13.5658 ha, and approximately 450,000 m² of bulk. Excludes the existing surrounding developments: ICC/DEC Campus and Workshop Retail Centre

Investment value

The total investment value is estimated at R9.4-billion with an annual rates contribution of R67-million. This will be confirmed following the Developer appointment.

Sources of funding
  • Private Developer and eThekwini Municipality.
Incentives available
  • Economic Development Incentive Policy 2022/23- Inner City
No. of jobs to be created (Direct/Indirect) & Empowerment (Women, Youth, People with Disabilities)
  • Estimated to provide 3,350 construction and 1,350 permanent jobs – To be confirmed by Developer.

Project Status¹

Pre-Implementation:
    • Approved Urban Design Framework for Centrum Site
    • Approved Inner City Local Area Plan 2017
    • Real Estate has completed with statutory processes for Land Release.
    • A Transactional Advisor has been appointed through GTAC to assist with the review of existing information, finalise the EOI and RFP tender document and provide procurement advice on the PPP approach as well as finalizing of the appointment of the Developer.
    • Current Status – EOI – awaiting BSC meeting.

Redevelopment of the Centrum: Gugu Dlamini Sub-Precinct
Regulatory requirements of the project

The catalytic land development forms part of the eThekwini Municipality’s Package of Plans, therefore, aligns with the approved Inner-City Local Area Plan 2017; the eThekwini Municipality: Planning and Land Use Management By-Law, 2016: Decisions on Land Development Applications; and the Integrated Development Plan.

Partnerships
  • Public-Private Partnership – between eThekwini Municipality & Private Developer.
Opportunities
  • Further regeneration of the broader precinct – new private investment opportunities.

Contact the project team:

Property developers and other potential investors 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.


    RELATED ARTICLES

    Investment Projects

    Business News

    spot_img

    Recent News

    spot_img