Thu, Oct 6, 2022
HomeConstruction and EngineeringAn update on progress for the Durban Point Waterfront development

An update on progress for the Durban Point Waterfront development

The R35-billion investment located on the South Point of the central beachfront is set to include a number of mixed use developments projects, including upmarket residential and commercial developments, retail mall, a hotel and leisure facilities.

Project summary

Investment value: R35.6-billion
City contribution: R620-million
Developer contribution: R35-billion
Investors: Various
Start and finish date: 2016–2030
Jobs created: 11 000 (Construction) and 6 750 (Operations)
Annual revenue: R200-million

Progress to date*

  • Watermains upgrade along Mahatma Gandhi Rd and Anton Lembede St has commenced with the completion end of the 2021. Combined value of construction approximately R200-million.
  • Point Prominade has been completed.
  • Municipality to take over DPWMA maintenance infrastructure in 2021/22.
  • DPWMA to continue with Top-Up services only. Legal unit assisting with this
    process.

Next steps underway:

  • Dissolving of the Point Precinct Trust (PPT), process to commence by Legal.
  • DPDC Board representation.
  • The MSC Terminal is currently underway with construction (50-60% Completion) and will be completed August 2021. MSC Passenger Cruise Terminal is valued at approximately R200-million.
  • Harbour Promenade – Extension of the Point promenade by Transnet valued at approximately R30-million. The Design & Tender Documentation has been completed however due to the budget constraints, this is currently on hold and anticipated to commence July 2021.

*At the time of source publication
See historical data about the project here

Contact for more information:

Interested businesses or investors, kindly send a short introduction & message for attention of the project promoters and investment facilitation team, using the name of the project – Point Waterfront Development – in your subject line. Thank you!

    RELATED ARTICLES

    Investment Projects

    Business News

    spot_img

    Recent News

    spot_img