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eThekwini Municipality gears up for multibillion-rand Shongweni development project

A multibillion-rand project earmarked for Durban’s Outer West is set to change the face of the west region and bring thousands of investments to the area. The project is a partnership between the City and property development group, Fundamentum.

According to eThekwini Municipality mayor, Mxolisi Kaunda, the Shongweni development is in line with the City’s radical socio-economic transformation programme. Speaking at the launch of the Westown phase held in Shongweni on Thursday, Kaunda said about 30 000 jobs will be created once the Shongweni Urban Development is complete.

“R200 million will be allocated to local suppliers and 8 000 jobs will be created. Once all the phases have been completed, we are anticipating that 30 000 job opportunities will be created. The launch of this development is a clear indication that attracting foreign direct investment in the City remains a key priority,” he said.

Kaunda said launching this phase kick-started a chain of development that would see this largely rural landscape transform into an urban core and new economic hub in a few years. The first precinct of the development, as part of phase 1 is Westown, is a 100-hectare retail and urban core hub, which will include the retail high street offering of Westown Square, a new hospital, residential apartments, and commercial, business and logistics sub-precincts.

The mayor explained that Westown is a R2.5 billion investment by the developer that would catalyse further investment in the area, stimulate job creation, and bring an array of much-needed services closer to communities. The total private sector investment for the implementation of all the phases will be approximately R30 billion over the next 15 years, depending on market conditions.

Chief executive officer of Fundamentum, Carlos Correia, said they are committed to changing the tide on developments of this nature by leading a mixed-use urban sustainability agenda at Westown - inclusive, environmentally sustainable, high-energy, safe and secure. “The first tender for the upgrade of Kassier Road has been awarded to a stellar local development team, including contractors and engineering consultants,” he added.

Westown is expected to be completed by the third quarter of 2024. “The City’s investment for the Westown component is R595 million towards municipal infrastructure, with the majority going towards the widening of the initial portion of Kassier Road. The City’s annual rates revenue is expected to be in the region of R350 million, appreciating with time,” Kaunda said.

Source: www.iol.co.za
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