Durban Property - International Launch of Sibaya Mega Property
Tongaat Hulett has embarked on a new chapter in its land conversion activities with the appointment of Savills (UK) in association with 5th Avenue and the Pam Golding Properties Group to launch Sibaya Nodes 1 and 5 real estate opportunities to an international market.
While a total of five nodes make up the first phases of the mixed-use Sibaya development, nodes 1 and 5 are being prepared for marketing within the next few months. Node One consists of 50 developable hectares and is located east of the M4 and Sibaya Casino. Node Five comprises 76 developable hectares and is situated immediately north of Node One and bordered by the M4, the M37 to the north and the coastal town of Umdloti to the east.
The appointment of international real estate services provider, Savills, to market the two properties highlights the potential that this unique landholding offers. With global headquarters in London, LSE-listed Savills, together with 5th Avenue and Pam Golding, offers a leading, global platform for the launch of this unique property.
In the fast-growing and well-established northern development corridor of Durban, boasting 180° sea views, a backdrop to extensive natural coastal forests and within easy reach of the King Shaka International Airport, the development possibilities for these two Sibaya nodes include major new resorts in conjunction with lifestyle residential accommodation, upmarket offices and developments suited to the leisure and hospitality industry. Hotels, conference and entertainment facilities, retail and recreation facilities would complete the picture.
“Tongaat Hulett envisages Sibaya as a unique play-live-work lifestyle that is based on bringing together the best of both urban and natural environments. These opportunities lend themselves to organisations possessing global expertise and bold vision to maximise their enormous potential,” notes Mike Deighton, Tongaat Hulett’s executive responsible for property development.
“Durban has seen tremendous expansion in recent years, with the construction of the new international airport and Dube Trade Port being real statements of intent from the Government and Local Authority to attract international investment to the region.” commented Daniel von Barloewen, head of Savills International Development Consultancy
“The Sibaya site provides an opportunity to deliver a new destination for Durban to attract international investors, hotel operators and businesses. Savills are delighted and privileged to be partnering with Tongaat Hulett in helping shape the future of the region and attract global investors,” he said.
“Found in the rapidly-expanding North Coast, a mere 8km north of Umhlanga and 25km from the Durban city centre, these properties are expected to attract significant investment into the region,” states Zamo Gwala of Trade & Investment KwaZulu-Natal, “and TIKZN would be available to provide assistance and resources to any new entrants to the market.”
Mike Deighton concludes, “The Sibaya precinct presents a powerful proposition for a catalytic impact on the region. Situated within an emerging Aerotropolis, there is an appreciation of the vast socio-economic needs within this broader region and Tongaat Hulett believes that new international investment into Sibaya will provide a substantial boost to the development necessary to address these challenges, enhancing the region’s global presence and branding.”
Issued by: Tongaat Hulett
Shirley Williams Communications
Telephone: 031 564 7700 or 083 303 1663
Telephone: 082 301 1477
Michelle Jean-Louis -Communications Executive
Telephone: 032 439 4101
About Tongaat Hulett
Tongaat Hulett is an agriculture and agri-processing business, focusing on the complementary feedstocks of sugarcane and maize. Its ongoing activities in agriculture have resulted in the company having a substantial land portfolio. Tongaat Hulett’s unique skill and competence in the conversion of agricultural land to development, is a key driver of the fundamental shift in the pace and value unlock from the company’s land conversion activities and property portfolio. Through its sugar and starch operations, Tongaat Hulett produces a range of refined carbohydrate products from sugarcane and maize, with a number of products being interchangeable. Global sweetener markets continue to be dynamic and the business seeks to optimise its various market positions, leveraging off its current base to maximise revenue from these products. The business’s sugar operations are well placed to benefit from evolving dynamics of renewable electricity and ethanol in South Africa, and the Southern African Development Community (SADC) region.