The economic powerhouse of KwaZulu-Natal, eThekwini Municipality aims to become Africa’s most caring and liveable city by 2030.
eThekwini Municipality has several major investment projects under way in partnership with the private sector in a bid to ensure that Durban continues to be a global city and a leading tourism and investment destination. As part of its efforts to be Africa’s most caring and liveable city by 2030, the municipality has partnered with key economic stakeholders to innovatively identify and address the economic challenges that face the city. To this end, the municipality has adopted an inclusive economic growth plan, called Shape Durban, to build a stronger and more inclusive economy through concrete interventions. The municipality has also appointed Team Durban to provide strategic foreign direct investment advice and support to the city by acting as a sounding board for council leadership and the new Invest Durban Unit on business and investment promotion matters. Further, the eThekwini Municipality’s Investment Promotion Strategy and Implementation Plan has been rolled out. The plan aims to facilitate sustainable investment in Durban through the expansion, retention and aftercare of the existing multinational investors as well as targeted attractions for significant new foreign direct investment.Catalytic projects
Council believes that the city is poised for massive growth from several major catalytic projects over the next few years, which will create investment and employment opportunities. These projects are expected to have a huge economic and social impact that will be measured by the number of jobs created and how they support mixed-use development by integrating commercial and housing needs. The city has established a Catalytic Projects Office, tasked with accelerating the implementation of catalytic projects and providing a one-stop shop for project prioritisation, planning, scheduling, coordination and implementation. The significant projects that are beginning to take shape include the Point Waterfront Development, Cornubia Development, Dube TradePort, Ntshongweni Development, and Dumisani Makhaye Node (Westrich Mall) Development. Importantly, growth opportunities over the next 20 years will focus on capitalising on the role of the port, international airport and modern rail, road, infrastructure, information and communication technologies. This includes promoting the city as a centre for trade between Africa and the world, as well as promoting the city as the best location for manufacturing activities.
Cornubia
The Cornubia Development is regarded as a catalytic intervention to establish the first fully integrated human settlement in the country. The multimillion-rand mixed-use project has the potential to yield 28 000 units and is transforming the physical and social landscape of the city. The development is being constructed in phases over a 20-year period covering 1 300 ha and includes industrial, commercial and retail development. When complete, the area will create an estimated 48 000 permanent retail and industrial jobs. A 100 000 m² logistics park is to be developed at the N2 Business Estate located on the northern edge of Cornubia. Once completed, the estate could create 2 400 permanent jobs and generate R45 million a year in rates income for the city.
Dube TradePort
This 2 840 ha development near King Shaka International Airport will become an airfreight hub comprising of Cargo Terminal, Trade, Agri and Support Zones. To date, Dube TradePort has secured R3.2 billion in private sector investment. With a great deal of development completed and more currently under way, current projections point to the expanded zone attracting in excess of R10 billion in private sector investment in coming years. The TradePort will eventually provide 150 000 permanent jobs with a total annual rates contribution of R180 million.Centrum site
The development of the Durban Centrum entails a mixed-use precinct of integrated rapid public transport network (IRPTN) bus stations, a new super basement parking garage with public service buildings, integrated with high-density residential, hotel, retail and commercial development. The 28 ha site comprises the largest single area of the central city and offers the potential for comprehensive redevelopment. The site will complement the adjoining central business district while trying to preserve the city’s historic buildings and heritage. The project is projected to provide 3 350 construction and 1 350 permanent jobs, with an annual rates contribution of R67 million. The investment value of the development is estimated at R4 billion, to be developed over eight years starting in 2020/21.GO! Durban
eThekwini’s IRPTN, GO! Durban, is the biggest infrastructure project the city has ever undertaken. Set to revolutionise public transport in the city, GO! Durban integrates several different modes of transport and innovations. By 2030, the new transport network will have eight dedicated bus lane routes and one rail route, which will link eThekwini Municipality from north to south and east to west, with the first route nearing completion. The R280 million interchange to link the Cornubia Development and the uMhlanga Precinct also forms part of the project.
