| | Durban Point Waterfront - 55 Ha Premium Site To Be Developed
Location: Durban Point Waterfront, Durban, KwaZulu-Natal
Property Type: Development
ZAR Price on Application
Contact: Colin Sher |
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Durban Point is one of Durbans most historic and significant urban quarters. It has a superb location and enjoys access to a range of modes of movement including pedestrian, road, rail and sea and therefore has local, national and international connections.
Over the years Durban Point has been subject to creeping blight that has left it largely abandoned and vacant. Paradoxically it represents one of the most under-utilised assets within the city.
Intentions to revitalise the area have been mooted for several decades and it is only now, in 2003, that it will finally be undergoing significant redevelopment. Much of the renewed impetus for this initiative has been the implementation of the uShaka Marine World project. This must-see-must-do attraction was consciously targeted at creating a development impetus for the city, and Durban Point in particular, and is regarded as the catalytic project for the 55ha Durban Point site.
The trigger for the development of Durban Point can be found in the water reticulation and purification system for uShaka Marine World and the need to return that water to the sea via a canal. This led to the idea of creating a unique Waterfront City within a City in which a system of canals forms the central spine of urban redevelopment and where the economic benefits of water frontage extend throughout the area.
The Durban Point initiative is therefore not just an attempt to extend the city fabric in a banal way nor is it intended to transform the area into an extended theme park or tourist resort. Rather Durban Point will become an important, well-defined and exciting addition to the city and a sought after place to live, work and play. It is envisaged that a range of activities will be accommodated in a mixed-use environment containing a host of urban functions and reflecting a true urban place with 24-hour activity.
Located at the entrance to the busiest port in Africa, the Durban Point Waterfront is one of South Africas most significant and exciting property development and investment projects. The Durban Point Development Area includes the uShaka Marine World and extends from Bell Street to the harbour entrance and from the beachfront to Point Road. The site measures 55ha of which uShaka Marine World takes up 10ha while the balance of 45ha is to be developed as a series of precincts collectively known as Durban Point. By comparison the land area of the V&A Waterfront in Cape Town is 88ha in extent.
Destined to become one of Durbans most prestigious addresses, and a key tourist attraction, the Durban Point Waterfront is rapidly transforming from a previously run down precinct into a multi billion Rand property showcase.
The land owner of uShaka Marine World is Durban Marine Theme Park (Pty) Ltd while the land of Durban Point is the Durban Point Development Company (Pty) Ltd. The land on the harbour side of Point Road, as well as the current harbour entrance area, is owned by the National Ports Authority.
The first phase of 14 Mixed-Used apartments, entertainment and retail complexes are scheduled for completion from 2005 onwards.
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