A plan for a R28-billion property development on a 437-ha site near George, in the Western Cape, was unveiled on Friday night at a function attended by the province's Premier, Helen Zille.
The development, dubbed the ‘Destiny Africa Ecosphere', would be progressed in phases over the next 17 years, and would integrate residential and commercial facilities, as well as a university cluster and tourism facilities.
In all, 2,5-million square metres of bulk rights have been approved for the project, while zoning approval was granted in May.
Situated on South Africa's famous ‘Garden Route', the project's promoters say that the development model is aligned with the province's strategy of promoting "knowledge" industries.
Destiny Africa Investments executive director Thys Pretorius estimated the employment creation potential within the zone as being 50 000 direct and indirect jobs over ten years.
He added that the development would create a platform to promote the Garden Route as a premier ecotourism destination, as well as a business-tourism destination.
The development was initiated by a local consortium of business people through Khama Investments and KDMC, while land and development rights were obtained in partnership with Rand Merchant Bank. A development company, Destiny Africa Investment Holdings, was set up to drive the project.