In our effort to build the Sibaya Coastal Precinct into a sustainable, smart and convenient node, we have partnered with various industry leaders to achieve this. One of the key role players in the development of this precinct is Tongaat Hulett Property. Looking forward to an increased positive impact, we take a look at the partnership with Tongaat Hulett and how they have assisted in achieving growth and value for Sibaya.
Tongaat Hulett Property has made major strides over the last 20 years in KwaZulu-Natal. Bringing through a range of remarkable projects that have impacted many communities; Tongaat Hulett Property has a unique land portfolio, one of which is the Sibaya Coastal Precinct. Their vision has been to create an impact when it comes to growth and socio-economic transformation, by partnering with stakeholders and developers to facilitate major investment into the province.
As the first developer to enter the Sibaya Coastal Precinct, we found it vital to work alongside Tongaat Hulett Property. Devmco Group has further facilitated the creation of employment and sustainable lifestyle. Together, Tongaat Hulett Property and Devmco Group have invested in excess of R5 million into the catalytic Sibaya Coastal Precinct, with a further R20 billion planned for the next 5 years.
Over the last few years, the Sibaya Coastal Precinct has grown with its catalytic status making it a key growth area that investors can look forward too. The Devmco Group has implemented and steered the growth in this precinct and achieved over R4 billion in residential sales within the first 5 years of development.
This powerful partnership has created over 5000 jobs, while we anticipate a further 80 000 employment opportunities over the next 10 years. Notably, 20% of which are employed by the construction and real-estate industry.
The area will continue to see major expansion over the next few years with the development of Durban’s Smart Aerotropolis and Heineken’s brewery earmarked for the North Coast of KZN. As development and investment into the Sibaya Coastal Precinct continues, we will see a major shift towards a positive socio-economic revolution that the country needs post COVID-19. The development of the Sibaya Coastal Precinct will also see a huge impact to surrounding communities which will have a positive knock-on effect on the precinct’s property value.
From the bulk infrastructure to the properties mushrooming above the ground, Devmco Group and Tongaat Hulett Property are passionate about crafting a city of the future that will create an advantageous effect on everyone. If the last 5 years have anything to go by, this partnership will continue to strengthen and create a thriving lifestyle that Kwa-Zulu Natal has yet to see.