New Sibaya development phase to inject R5-billion into local economy
Developers say it will create thousands of direct and indirect jobs over the next five years and 12 000 permanent jobs once complete.
The mixed-use Sibaya precinct will one day span the stretch between the Ohlanga and Mdloti Rivers and up to the N2.
Aside from the 350 hectares of protected forest, all of the former farmland previously owned by Tongaat Hulett in the defined area will become a combination of residential, retail, commercial and medical zones.
Developers Devmco presented the short- and long-term plans for the precinct on Tuesday.
Over 7 000 people already live in the developed area, which includes Salta on the north side of the M27 (entry road into Umdloti) and a range of different individual estates in the south, which have so far registered over R6-billion in sales.
“We are really excited to bring the next phase of the evolution of the Sibaya precinct to market,” said Devmco Group commercial director, Brad Winstanley.
“The benefit is we get to link in the forests, green open spaces and activity zones. We are pedestrianising the estate and creating a game changer for KZN.”
In the short term, that means fully developing the land on the seaward side of the M4 and Devmco foresees a ‘managed precinct’ in which families can exercise and relax safely.
While the initial focus was on residential construction – some 1 300 units and freestanding homes to date – the next phase will see more commercial and retail options being introduced.
Devmco said they believe the upcoming development will inject R5-billion into the local economy, including the creation of thousands of direct and indirect jobs in the next five years and 12 000 permanent jobs once complete.
The Sibaya precinct has support from relevant government programmes, including ‘catalytic projects’ which helps to fast-track development in qualifying projects.
“Our programme helps to facilitate some of the catalytic projects in the north, Sibaya being one of the key destinations that we are working with,” said eThekwini Catalytic Projects senior programme manager, Stephen Angelos.
“We are working with Devmco and their team to unlock some of the key infrastructure in the node. This is a key project for us in terms of the broader ‘aerotropolis’ and the socio-economic benefits it is going to bring to the city in terms of job creation and potential rates income.”
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