Company Announcement - Tongaat Hulett Developments, building on its highly acclaimed track record over the past 20 years with developments such as the Gateway Theatre of Shopping, La Lucia Office Estate and Ridgeside which are home to some of South Africa’s most recognised names as well as the residential developments of Mount Edgecombe and Zimbali Coastal Resort fully endorses the confidence held in the broader Durban environment and adjoining coastal regions.  Recent reporting lists Umhlanga and Zimbali as major investment areas for the ultra-wealthy in South Africa.   Not only is this region attracting the attention of high net worth individuals from within South Africa but is increasingly becoming the focus from wealthy individuals from Africa. 

Having identified the growing demand for sought after new coastal developments Tongaat Hulett Developments has now released the first parcels of land for development within the much awaited Sibaya precinct. The eastern component of the Sibaya precinct (Nodes 1 and 5) has full development rights that will effectively pump R8 billion into the local economy, create 7000 permanent jobs and generate R100 million in annual rates.

"There is a pent-up demand and serious appetite for investment in the north coast and this release will most certainly meet the aspirations of the well-heeled. Current developments like Izinga and Zimbali have been wholly sold out, leaving the market gasping for fresh investment opportunities," Tongaat Hulett Developments MD Mike Deighton said on Tuesday at the launch function held at the Sibaya Casino and Entertainment Kingdom.  The company launched the opportunity to more than 70 developers in Durban with Johannesburg on the roadmap for Wednesday and Thursday this week. Judging by the over subscription to the Durban launch we expect an even greater turnout in Johannesburg said Deighton.The unprecedented growth of the KwaZulu-Natal north coast, specifically the region between Umhlanga and Ballito, had evolved into some of the most sought-after investment destinations in South Africa.

The Sibaya precinct comprises 750 hectares across five development nodes with all the rights in place for the nodes situated east of the M4 highway thereby allowing for the opportunity of an immediate start on development and construction. The launch saw the company release three investment packages out of the five available within Node 1 which abuts the coastal dune forest.   Easy access which is gained from the Sibaya Circle on the M4 and its close proximity to Umhlanga and the King Shaka International airport certainly adds to the excitement of this new release to the market.

"The vision is for a compact, mixed-use urban development, enhancing sustainability by reducing the spatial footprint of the overall development and reinforcing the natural landscape with generous open space," Deighton said. The development seeks to actively encourage a real integration of urban and natural environment where each element reinforces the other to provide an entirely new urban identity and way of life for future residents and visitors.  Surrounded by three pristine forests covering some 350 hectares which are some of the only coastal dune forests found outside the Isimangaliso Wetland Park in northern KwaZulu-Natal.

"While developing land across the province, we remain committed to always adding value to our projects and Tongaat Hulett Developments will take responsibility for establishing a conservation trust for the long-term sustainability of the coastal dune forests," Deighton said.

The 3 real estate packages being released will see the construction of 650 sectional title units and 28 exclusive half-acre stands (2000 m2) for the creation of new homes ranging in size between 1000m2 and 1500m2.  Provision has also been made to accommodate 9000m2 of commercial and retail space within the largest of the three packages.  Equally provision has been made to accommodate future hotel developments which ultimately could provide in excess of 900 hotel rooms further underpinning the desirability of this becoming Durban’s future playground.

Tongaat Hulett Developments would be responsible to construct the main boulevard access road to the three real estate packages heavily landscaping the surrounding areas, and will establish the management structures to enhance land and property values. The company would also be responsible for reticulating water, sewer and electricity to the site boundaries for the developers. "Sibaya, quite simply, provides the platform for the last word in elegant, stylish and sophisticated living. It is the promise of superior levels of privacy and unobtrusive security coupled with extraordinary views of the ocean and Durban’s coastline," Deighton said. He said the development offered an opportunity for co-existence with the natural landscape with generous open spaces. Discreet walkways through the forest offer access to the beaches below and the warm Indian Ocean while still being within a few minutes' drive from Umhlanga's vibrant commercial and retail hub and the King Shaka International Airport.

Deighton said the company had now formally released the  real estate opportunities to developers and investors  inviting them to submit proposals that will include their vision and development concept, track record and ability to deliver, role-players involved including Black owned business participation as well as deal structure, by the end of August. Judging by the interest already being shown, there is likely to be no shortage in proposals being submitted.