Expected job boom with Cornubia retail investment

The Cornubia development, a joint venture of eThekwini municipality and Tongaat Hulett, recently welcomed a R1.5 billion investment for a shopping mall that will occupy 8.5 hectares.

Just 15 kilometres from King Shaka International airport, the R25 billion development was approved in 2014 and is predicted to be a huge contributor to the livelihood and economy of the North Coast.

Tongaat Hulett’s development executive, Karen Petersen, said the development of the shopping mall would benefit many people on the North Coast.

“This alone will create 3 856 construction jobs yearly. Permanent and sustainable jobs will be 3 407 and employment over the entire six-year construction period would be 23 138,” she said.

The Cornubia development, deemed as a national high priority, extends through Mt Edgecombe and Umhlanga as well as lower income areas like KwaMashu, Inanda, Ntuzuma, Phoenix and Ottawa.

Cornubia is set to be a mixed income, fully integrated “human settlement” with a town centre, business hub, industrial estate and now a retail shopping centre. The land will provide 24 000 homes, 15 000 of which are proposed for subsided housing.

The retail investment is the first transaction between Investec and Tongaat Hulett that developers hope will serve as a catalyst for the broader area and unlock further sales.

“It will serve as a key landmark and asset as the development of Cornubia unfolds, WBHO, as the main contractors of the shopping centre is building at speed and the construction site shows huge progress. The development is scheduled to open in September 2017,” said Petersen.

National retailers which include, Dis-chem, Pepkor Group, Woolworths, Edcon Group, Virgin Active, Pick n Pay, Clicks, Bakos Brothers, Outdoor Warehouse, Nu Metro, Checkers, Cotton On, Truworths, The Spur Group and Burger King booked space in the new mall.