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Durban’s R35 billion waterfront facelift is underway

Category Commercial Property News

The eThekwini municipality is expected to launch the first phase of its R35 billion Durban Point redevelopment this week, with construction starting on a 750 metre long promenade at the base of the planned build.
The promenade will be 30 metres wide, and will run from uShaka Marine World to Vetch’s Pier. It is expected to be open for use by mid-2019, the municipality said.
According to the city, approximately R300 million has been set aside for the promenade development – a small portion of the R35 billion Point Waterfront Development which aims overhaul the entire area and further attract investment and tourists to the vicinity.
On the northern side of the promenade, beach facilities and amenities will include change rooms, ablutions for bathers and staff facilities. Public parking and dedicated parking for water-sport clubs will also be provided beneath the promenade.
The clubs, which were moved to temporary facilities in 2016 and 2017, will be accommodated in new spaces in the promenade, the city said.
Restaurant facilities will also be leased out to operators. Plans also include an amphitheatre located in the centre of the promenade serving as the primary beach events space.
The promenade extension unlocks phase one investment of the Point Waterfront Development which will include a residential tower, retail mall and hotel, the city said.
The Point Waterfront development is expected to cover a total of 750,000 square metres, and will including high rise skyscrapers exceeding 55 storeys. Development in the area is expected to extend beyond 2022.
Credit: Businesstech.co.za

Author: Officebook

Submitted 28 Mar 18 / Views 704