EThekwini is poised for massive economic growth from several catalytic projects that are underway and progressing well. They are earmarked to boost the Municipality’s rates base, transform the local spatial footprint, and create employment and business opportunities.
On 11 August, the first phase of a 2 000-hectare catalytic project, the Shongweni Urban Development, was launched. Strategically located in Shongweni, Westown is perfectly positioned for an integrated urban environment between Durban and Pietermaritzburg on the country’s main economic arterial, the N3. A development by the Fundamentum Property Group, Westown is a mixed-use precinct of urban and green spaces built around the retail heart of Westown Square.
Westown is an R2.5 billion investment by the developer that will catalyse further investment in the area, and stimulate job creation while bringing an array of much-needed services closer to communities. Westown is expected to be completed by the third quarter of 2024.
Here are some facts:
- The total private sector investment is R30 billion over the next 15 years
- There are nine phases
- 15 000 construction jobs will be created for the full project
- R2.5bn in infrastructure for the area over time
- Commitment to sustainable development practices
- R2.5bn investment
- 8 500 direct and indirect jobs after construction
- 3 500 permanent jobs
- 30% BEE shareholders from eThekwini region
- 2.5% contribution to Community Trust
