Salta Sibaya is one of the key developments Devmco Group has introduced into the Sibaya Coastal Precinct. This dynamic development achieved over R1 billion in its first weekend of sales in March 2021, and has now become the fastest selling development in South African history to reach R2 billion in less than 12 months since launch.
Devmco Group Director, Charles Thompson shares, “From the moment we first broke ground in the Sibaya Coastal Precinct to the continued development of our projects over the years, we have altered the way people live along KwaZulu-Natal’s North Coast. It’s through our experience with catalytic projects like Salta Sibaya that we understand how important it is for public and private partnership to effectively shape the lives of communities and stimulate economic growth.”
With the government pushing for South African businesses to take the lead in the sustainable future of the economy, Devmco Group is pioneering this space as an example of how to make a positive change.
“I find solace in President Ramaphosa’s reference during this year’s SONA, where he says that government does not create jobs; businesses create jobs.” Said Thompson. “This is probably one of the most powerful and telling statements the country has heard in years and I am optimistic that if this is the spirit that government moves forward with for 2022, where they can create the conditions that will enable the private sector ‘to emerge, to grow, to access new markets, to create new products, and to hire more employees’ – we can’t put a foot wrong,”
Devmco Group estimates Salta will bring in an investment of R150 million in infrastructure to the Umdloti area. This includes electrical, sewerage, water and power and, upgrades made to main arterial roads. The entire project is set to create 40 000 to 50 000 short-term jobs, 4 000 to 5 000 long-term jobs and once residents take occupancy, Salta Sibaya will generate R40 – R50 million in rates for the municipality. We envision Salta Sibaya will transform the area, making it a commercial, residential and retail hub. Construction is underway at the site and we are excited to share that our commercial hub is taking shape. Retail tenants will likely be able to take occupancy from October 2022.
As Devmco Group continues to push the boundaries and create ground-breaking developments, the innovations behind Salta Sibaya have shown how the public are looking for a secure, dynamic lifestyle that offers convenience and a higher quality of life. We look forward to achieving more milestones as we progress in construction.