Fatshimetrie is pleased to announce an exciting new phase for the City of Durban, with a revitalisation project for its iconic Marine Promenade. The eThekwini Municipality recently contracted contractors to redevelop this jewel of South Africa’s coastline, bringing a breath of fresh air and renewal to this iconic location.
Durban, with its bustling harbour and thriving conference centre, offers huge potential for business and leisure tourism. Despite the challenges the city has faced, including crime and natural disasters, an improvement in its image and infrastructure could propel Durban to new heights.
One of the flagship projects in this revitalisation initiative is the iconic Joe Cool’s property on Marine Parade. eThekwini has awarded the contract to redevelop this site to Imvusa Trading 595 CC, with a 45-year lease. This project is expected to create not only 80 jobs during the construction period, but also provide new economic opportunities for the city.
In addition, the municipality has entered into discussions to revitalise the former Funworld site, demonstrating its commitment to urban development and promoting local tourism. In parallel, a major investment of R1 billion has been announced by the Southern Sun Group for the refurbishment of the Elangeni and Maharani hotels, securing 500 jobs.
Thapelo E Mmusinyane, Real Estate Manager for the eThekwini Municipality, highlights the city’s commitment to attracting investment and fostering economic growth. Initiatives such as the Economic Development Incentive Policy have helped attract investment estimated at R217 billion, creating nearly 300 000 jobs.
By providing tax incentives to businesses that contribute to local growth, eThekwini is establishing itself as a regional economic development engine. This innovative approach has not only attracted the attention of investors, but has also increased confidence in Durban’s potential as a competitive and attractive business destination.
In conclusion, the Durban Waterfront Promenade Redevelopment Project illustrates the city’s commitment to reinventing itself and creating an environment conducive to economic prosperity and the well-being of its residents. With major investments underway and a renewed commitment to sustainable urban development, Durban is on the path to radical transformation, propelling the city towards a bright and vibrant future.