Thank you to those of you who joined our live Q&A session.
The last live session delved deeper into Sibaya to look at how its catalytic nature accelerates job creation and the economy, what investment opportunities already exist within the precinct, what is happening with upcoming developments and a future value forecast.
• R4-5 billion worth of development already exists on the coastal side of the Sibaya Coastal Precinct.
• 60% of Sibaya will remain green and undeveloped, this includes the 350 hectares of coastal forest which is actively being made clean, safe and secure to allow forest and beach access and opportunity for other recreational activities. The forest area will also be actively patrolled by security personnel.
Ultimately Sibaya will be a mix of different types of residential, commercial and retail developments:
20 000m² retail including kid-focused outlets, eateries and coffee shops
5000m² modern medical facility
A Curro school that caters for Grade R – Matric and can accommodate 2000 learners
A private university valued at R1.5 billion
A 500-bed international hotel
A frail care facility
Sibaya Node 6
• Will introduce and develop 350 – 400 freestanding retirement opportunities which are competitively priced and pet-friendly.
• In the next 2 -3 years, 500 + freestanding homes in the R2 – 4 million range will come onstream.
Job creation and the impact on the economy
• Sibaya has created 30 000 – 40 000 jobs over the last 5 years, and another estimated 70 000 – 80 000 jobs will be created over the next 10 years, with 10 000 of those jobs being permanent.
• On average Sibaya generates R150 million in rates for the city and about R1.2 billion is effectively given back to the city through VAT (Value Added Tax).
• The upcoming Node 6 will unlock approximately R20 billion worth of work over the next 10 years and Node 5 will unlock another R10 -15 billion worth of work over the same period.
Devmco Group Developments and Value Projections
• Gold Coast Estate and Parc are 3 months from completion. Gold Coast Estate has 50 houses currently under construction and another 50 upcoming this year.
• Covid-19 will not impact the speed of delivery of Gold Coast Estate and Parc, and we will be implementing stricter Health and Safety measures on site and administering PPE and hygiene protocols in line with Government regulations. Essential services such as cleaning, repairs and maintenance are happening at Gold Coast Estate to ensure we are ready to get going once we enter Level 3 of the lockdown.
• Our existing developments have seen capital appreciation of 40% over the last few years which is set to increase by an average of 10 -20% per annum as demand for the Sibaya lifestyle grows. Investors who get in early will naturally get a higher yield; the unmatchable location, convenience factor and natural assets will drive up values as demand for park-like lifestyles and secure estate living grows. Beach access, managed green areas and proximity to the airport will attract regional semigration (JHB) and also domestic migration from other Durban suburbs which will also drive up values.
Please watch our video to get the full picture as we unpack the topics in more detail.