Construction World January 2015

PROJECTS AND CONTRACTS

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 5 th Avenue and the Pam Golding Property Group to launch Sibaya Nodes 1 and 5 real estate opportunities to an international market.

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 resi- dential accommodation, upmarket offices and developments suited to the leisure and hospitality industry. Hotels, conference and entertainment facilities, retail and recrea- tion 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 oppor- tunities lend themselves to organisations possessing global expertise and bold vision to maximise their enormous potential,” notes Mike Deighton, Tongaat Hulett’s exec- utive responsible for property development. “Durban has seen tremendous expan- sion in recent years, with the construc- tion of the new international airport and Dube Trade Port being real statements of intent from the Government and Local Authority to attract international invest- ment 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 opera- tors and businesses. Savills is 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 8 km north of Umhlanga and 25 km from the Durban city centre, these properties are expected to attract signif- icant investment into the region,” states Zamo Gwala of Trade & Investment KwaZu- lu-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 Aero- tropolis, 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.”

M27 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 5 th Avenue and Pam Golding, offers a leading, global platform for the launch of this unique property.

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

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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

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CONSTRUCTION WORLD JANUARY 2015