Work on a new R76 billion North Coast mega-development is underway

Work is underway on a new mega-development on KwaZulu-Natal’s North Coast.

The area – covering some 5,000 hectares between Sheffield Beach and Blythedale – has been earmarked for massive residential, resort and commercial property developments, at a cost of approximately R76 billion, said Tim Johnson, principal of Seeff North Coast.

The area is owned by the Collins Group and the Royal Shaka Property Group, with the mega project set to include seven development zones, he said.

“Phase 1 of the first zone – Zululami Luxury Coastal Estate comprising of 140 ha – is now well underway. This phase comprises 350 stands as well as several sectional title developments. Once these offerings have been taken up, a second phase of Zululami will be launched named The Seaton,” he said.

The Seaton is set to become one of South Africa’s landmark equestrian estates with about 3,776 homes, an equine district, a lifestyle village and a private school and college node, Johnson said.

Part of the plan includes an olympic-size indoor show-jumping arena, polo fields and a horse training venue, he said.

Johnson added that even though both these developments are located on separate land, they will be strategically adjoined and together they will provide over 34,000 residential units.

“Other strategic opportunities will include beach resorts, retail developments, theme parks and commercial and mixed-use property developments,” he said.

Population Boom

The North Coast has grown exponentially in recent years, and several new developments have either been completed or are well underway.

“Following the opening of King Shaka International Airport in 2010, there has been huge growth in air traffic where estimations now predict that passenger arrivals are expected to hit the million mark by 2025,” Johnson said.

“In May this year, British Airways announced direct flights to and from King Shaka to the UK adding to the growing list of direct international flights which has encouraged many business people and investors to buy homes on the North Coast.”

Johnson said that Ballito’s permanent population has grown from 12,000 to 30,000 residents in just over ten years, with more than R2.7 billion in residential sales per annum.

An additional R3 billion has also occurred within the new estates between Umhlanga and Ballito in the past 18 months, he said.

Read: South Africans make up 25% of the foreign property market in Mauritius

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Work on a new R76 billion North Coast mega-development is underway