Through its property developments, the Devmco Group has created over 14 000 jobs in only 5 years. Having invested into the Sibaya Coastal Precinct as recently as 2014, the jobs created by Devmco have set off a host of cascading benefits with employment being top of the list. Charles Thompson of the Devmco Group shares, “On average 170 jobs are created for every R100 million that goes into creating a development, and between Umhlanga and Sibaya Coastal Precinct we have brought R8 billion worth of development to life- that translates into an average of 14 000 temporary jobs.”
Cascading from this, Devmco’s investment into KZN’s North Coast has meant that between 1400 to 1600 permanent jobs have been created by way of professional appointments and other permanent staff at households such as housekeepers, nannies and other services. “At our offices, across the road from OceanDune, we now have 60 permanent professionals under one roof. Although they contract to us on our developments, they are still able to take on other work if they want to. We are empowering these professionals to not only make the best decisions when it comes to how and where they channel their expertise but also giving them the opportunity to become as financially independent as they can. Outside of our doors, if we use a simple 1:1 ratio, across 5 of our developments there are potentially over 1000 permanent jobs existing as a result. ”
As their development journey grows and matures, so will the opportunities for employment and as a ‘passionately Durban’ developer, Devmco are here to stay, Thompson continues, “We are extremely bullish about not only KZN and Durban but also South Africa, and we truly believe SA’s potential is untapped. Durban alone has so much to offer- sea, bush, berg and all within close range. And with the aerotropolis on the cards, there is a lot more to come. Heineken have recently revealed that they plan to set their brewery up in the vicinity of the imminent aerotropolis which means an investment of R14 billion over the next 3 years as well as 4000 additional jobs. Africa’s first Club Med is around the corner from Sibaya, and is one of the many things in the pipeline that will genuinely open Durban up to the international market and with that comes more employment opportunities.”
Thompson explains that just the sheer size and value of the some of the commercial and residential buildings going up in a 10-kilometre radius- Park Square, Umhlanga Arch and Oceans- signify where Durban is going. With all of this as well as the upgrades happening at our local malls and regional shopping centres and the recent Durban beachfront promenade extension, one cannot be bullish about the future and part of that future is a focus on responsible, ethical and thoughtful development with a long-term vision in mind. As the first developers within the Sibaya Coastal Precinct, the Devmco Group are heavily invested in Sibaya and what’s to come and Thompson explains what it is they look for as developers, “It’s pretty simple, I ask myself ‘As a buyer would I want to buy there?’ and once I have that answer then I look at it from the developer’s perspective- ‘If I develop here would both parties win? Am I leaving enough on the table for the buyer?’ Both of us need to make money and walk away smiling. If we can say yes to all of those then we are making the right choice as developers.”