Durban is well-known for its beaches, but new
developments are set to make these prime draw-cards for
travellers and locals alike.
On Tuesday, 27 March
2018, eThekwini Mayor, Zandile Gumede, broke ground for
construction on extending Durban's Beachfront promenade,
which will support the R35-billion Point Waterfront
development project by unlocking the first phase.
The extension is set to be complete in June 2019, and
will be followed by the construction of a hotel,
shopping centre, offices and residential homes as part
of phase one of Point Waterfront.
The whole project, a public-private partnership, will be
completed in three phases over five to 10 years and will
create 11 000 jobs in the construction phase and 6 750
permanent jobs once it's completed.
According to Gumede, this will help boost the image of
Durban as a global city and grow the tourism sector, as
well as increase the value of property in the area
between 5% and 10%.
¡§It is encouraging to note the growing interest from the
business sector to work with the Government in major
strategic investments,¡¨ says Gumede.
¡§The Point Waterfront development must be seen in the
context of a city-wide development process, indicating
that Durban is on the brink of change."
The city will also be raking in R200 million in revenue
rates per year after completion, and national public
revenues could amount to R1,7 billion that will
contribute to the gross domestic product.