New R80 billion developments coming to South Africa’s millionaire coast
EThekwini City Manager Musa Mbhele says the metro is expected to see four or five new developments worth about R80 billion launch over the next few years, with the city itself spending over R20 billion to unlock investments over the next three years.
Mbhele was speaking at the launch of the North Oceans Tower at the Oceans mixed-use development in uMhlanga at the end of July.
The R1.4 billion tower was the latest to open in the R4.3 billion luxury Oceans development, with a R1.3 billion leisure investment by Southern Sun soon to be unveiled in the upcoming launch of the South Tower.
Mbhele noted that the Oceans towers are set to become a landmark luxury venue in the region, and follows the opening of the five-star Radisson Blu Oceans Hotel in June 2022 and the R1.3 billion Oceans Mall in November that same year.
The city said that the project continues to anchor Durban’s post-pandemic recovery and growing national interest in KwaZulu-Natal’s property sector.
“This catalytic project has grown from strength to strength and has changed the landscape of uMhlanga,” said Mbhele. “This development has positioned eThekwini and KZN as a sought-after investment.”
Mbhele added that the investment has spurred further developments in the wider metro, with “four or five developments planned, worth about R80 billion over the next few years”.
He also announced that the city will spend R22 billion over the next three years—a portion of which will be used to unlock future developments, investments and job opportunities.
A millionaire hotspot
The wider Umhlanga, Ballito and Durban area has drawn a lot of international interest from investors and has become one of the wealthiest areas in the country.
The African Wealth Report 2024, published by Henley & Partners and New World Wealth, showed that the region has attracted over 3,500 high-net-worth individuals (those with investable assets over $1 million).
On top of luxury projects like the Oceans development, the region is also home to one of South Africa’s top luxury estates, Zimbali.
The estate is also seeing a slew of new investments and luxury developments taking place.
Andreas Wassenaar, licensee for Seeff Zimbali, said the region has seen an influx of buyers from Gauteng and international buyers from the UK and Northern Europe.
This has boosted demand for estates in the KZN North Coast area, with sales mostly in the R13 million to R15 million range. High-end estate homes have been listed for up to R40 million.
According to Rainmaker Marketing’s latest Property Market Report for 2025, incomes in the KZN North Coast have surged dramatically over the last decade.
The average income in Ballito surged dramatically from between R12,500 and R25,500 to an impressive R91,500 and R124,000.
Ballito showed that 50% households were classified in the high-income categories and the rest spread across upper-middle and middle-income groups.
International brands have also taken note of the shift, with global luxury resort group Club Med, opening R2 billion beach and safari resort in the area in 2026.
The resort, located in Tinley Manor near Ballito, is set to open its doors in July 2026, with bookings available from September 2025.
It is also expected to welcome as many as 1,000 international guests on its first day alone.
While the province has been beset by various issues over the years, including knocks to tourism on the southern coast and around Durban, the north coast presents a great opportunity for the metro to capitalise on the shifting demographics.
There is a wider hope that by unlocking investment and development for these kinds of projects, the city can cement itself as one of the top wealthy destinations in the country.
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