Property Development Opportunities At Sibaya Hope To Bring In Foreign Investment For Durban. Read Here For The Future Plans In Our Amazing City!
Tongaat Hulett will be showcasing two prime pieces of land at a real estate show in Hong Kong next month, hoping to win global investors to develop the land into a resort. One section of land, called “Sibaya Mega Property” is 50 hectares of land located east of the M4 and Sibaya Casino. The other piece of land is 76 hectares of land and can be found north of eMdloti, boarded by the M4 and m27.
The land, which offers you a 180 degree view of the beautiful Indian Ocean, also offers investors the natural coastal forests as well as close access to King Shaka International Airport. Tongaat Hulett has mentioned some of the possibilities for the land include major new resorts, lifestyle residential accommodation and office development. The developments will focus largely on boosting the leisure and hospitality industires.
The development will also look at an increase of hotels, conferences and entertainment facilities as well as new retail and recreation facilities. Hoping to bring a balanced lifestyle of urban dwelling living harmoniously with nature. Mike Deighton, Tongaat Hulett’s executive responsible for property development said, “These opportunities lend themselves to organizations possessing global expertise and bold vision to maximize their enormous potential.”
The international real estate service provider, Savills has been appointed to market the two properties to global investors. This is in association with 5th Avenue and Pam Golding Properties Group.
What Will This Mean For The City
This type of investment if successful will be a huge economic boost for the city, who is already enjoying growth and development that exceeds forecasts. Ensuring that the new developments appeal to an international market will help position Kwa-Zulu Natal as one of the premier travel destinations in the world.
A recent statistic released showed two of Kwa-Zulu Natal’s hotels that are visited frequently by multimillionaires. This type of development can ensure that these numbers increase. It will also hopefully appeal to many international buyers to purchase property with the residential development, making it their holiday homes and increasing direct visitor spend during peak travel times.
What great news for Durban! What are your thoughts on this possible development? Let us know in the comments below.
*information sourced from www.iol.co.za