R4.3 billion luxury development launching in one of KZN’s top millionaire towns

·23 Jul 2025

The R1.4 billion North Oceans Umhlanga Residential Tower is officially launching on 25 July as part of the larger R4.3 billion Oceans Umhlanga Mixed-Use Development.

The project is located in uMhlanga on KwaZulu-Natal (KZN)’s North Coast and reflects the area’s growing reputation as a hotspot for wealthy individuals and property investment.

The African Wealth Report 2024, published by Henley & Partners and New World Wealth, shows that South Africa is still home to several high-net-worth individual (HNWI) hotspots on the continent.

Following Johannesburg, Cape Town, and the Cape Winelands, parts of KZN are estimated to have just over 3,500 HNWIs, which include Durban, Umhlanga, and Ballito.

Additionally, according to the World’s Wealthiest Cities Report 2025 by Henley & Partners and New World Wealth, the number of centi-millionaires living in KwaZulu-Natal’s coastal towns has also grown.

The number of people with liquid wealth exceeding $100 million (R1.7 billion) living in uMhlanga and Ballito has grown to 12, up from 11 in 2024.

According to Andreas Wassenaar, licensee for Seeff KZN North Coast, several towns along KZN’s North Coast, including uMhlanga, have seen demand growth from local and international buyers over the last 15 years.

He added that the market is seeing more European buyers, mainly the UK, France, Belgium, and the Netherlands.

Umhlanga or uMhlanga is a residential, commercial and resort town north of Durban on the coast of KwaZulu-Natal, South Africa.

The town is part of the eThekwini Metropolitan Municipality, which was created in 2000 and includes the greater Durban area.

As a result, the city is steadily rising as one of South Africa’s leading urban investment hubs, as evidenced by the launch of the Oceans North Tower on 25 July.

Situated on Lagoon Drive, the tower adds 258 luxury residential units to the precinct, including studios, four-bedroom apartments, and penthouses. All units have ocean-facing views and direct access to Oceans Mall.

Development opportunities for surrounding areas

The building includes resort-style pools, concierge services, yoga zones, children’s play areas, air-conditioning, and inverter readiness. It is connected to both the mall and the beachfront promenade.

The tower is part of the broader Oceans Umhlanga development, which includes Oceans Mall and the Radisson Blu Hotel. Since opening, the precinct has created jobs and brought in global brands.

“This is not just a property launch. It reflects the developers’ perseverance and how far Durban has come,” said Brian Mpono, CEO of Oceans Umhlanga Development.

Mpono added that the development has attracted international attention while supporting local involvement in property ownership.

The broader precinct has created over 25,000 jobs during construction, many of which were filled by residents from surrounding areas such as Inanda, Ntuzuma, KwaMashu, and Blackburn.

In addition to construction jobs, the development has supported Black-owned businesses. Half of the retail space in Oceans Mall is Black-owned, and 12 of the 14 restaurants are run by Black entrepreneurs.

“We are witnessing lives change. Young people are getting jobs in retail, women are managing restaurants, and people who struggled to find work are now employed in logistics and security,” said Mpono.

Neighbouring areas like Verulam, KwaMashu, Ntuzuma, Inanda, and Durban North, once excluded from large-scale investment, are now seeing more economic opportunities, particularly in sectors such as retail, security, cleaning, logistics, and hospitality.

While the final economic impact will be detailed at the launch, the project is being positioned as part of Durban’s post-pandemic recovery.

Mpono said the development shows confidence in the city and its future. He also noted that another R1.3 billion leisure development is planned for the South Tower.