select
|

R800 million Ocean Club-Zimbali Gets the Green Light

Phil de Sylva, IFA Hotels & Resorts Senior Vice President of Operations, recently addressed members of the Ilembe business community on the “Economic Contribution of Property Development to the Ilembe District”.


 
The networking lunch was hosted by the Ilembe Chamber of Commerce and Industry at the Fairmont Beach Club and was attended by a number of local business people.
 
de Sylva drew attention to Chapter 10 point 195 (c) of the South African Constitution where it states that “Public Administration must be development oriented” and said that in keeping with this Constitutional obligation and also in recognition of the fact that South Africa was a developmental state, National, Provincial and Local government had formulated development planning at every level to prioritize development.
 
The KwaDukuza Integrated Development Plan (IDP) therefore has a strong economic and developmental focus and is the foremost planning document for the municipality. Its mission is to maximize the economic status of the region by driving local development and delivering a high standard of essential services.  It also encourages public participation by overcoming debt and achievement of cost recovery on services provided.
 
The KwaDukuza Municipality ranks tenth out of fifty-one municipalities in KZN in terms of broadband coverage. Agriculture contributes a mere 9% to the economy, despite being the greatest land use, while the tertiary sector (finance, real estate, government) remains the largest Zimbali Lakes Resort contributor at 53%.  He said that manufacturing, at 27%, was not contributing enough to the local economy and construction only contributed 3.3%.
 
“The rapidly developing Northern Growth Corridor extends from Umhlanga to Richards Bay and will become the focus of economic growth over the next decade and beyond. An estimated R180bn has already been invested in the region between Durban and Ballito, making it one of the fastest growing areas in South Africa.


 
“Almost thirty families move here each month from Durban or Gauteng. The proximity of King Shaka International Airport makes it an easy commute and mixed-use developments in the North are encouraging people to benefit from our live, work, play philosophy”, he said.

Research shows that Simbithi and Zimbali Coastal Resort make up 40% of the total Dolphin Coast residential market, accounting for over R1bn per annum in property sales.  Around 75% by value of all property transfers on the North Coast are within gated estates.
 
A number of major developments are in the pipeline for the region and he listed among those IFA’s Zimbali Lakes Resort project, which is the final phase of the Zimbali master plan, the first being Zimbali Coastal Resort.
 
The Ocean Club - Zimbali development will cost over R800m and is the first of several to be constructed within the Zimbali Lakes Resort. It will be launched to the public later this month.

“Our vision is for a family-oriented resort comprising a well-balanced range of amenities, office space, retail shops and entertainment facilities. Zimbali Lakes Resort will be the final opportunity to secure a Zimbali investment in the greater Zimbali master plan.  The project is aimed at discerning buyers seeking to benefit from an active, healthy lifestyle within a secure environment. There will also be more latitude regarding pet ownership.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Jan 2018
      Extending from Randfontein in the west to Roodepoort in the east and including the towns of Krugersdorp and Magaliesburg, the West Rand has a plethora of property available to residents who choose to make this unique area their home.
    • 19 Jan 2018
      When it comes to financial planning, doing the work to ensure you’re prepared for unexpected emergencies is just as important as ticking off your other goals and New Year’s resolutions. The beginning of the year is also the perfect time to review your various insurance policies.
    • 19 Jan 2018
      No surprises at the first Monetary Policy Committee of 2018, as Reserve Bank Governor, Lesetja Kganyago, announced that the interest rates would stay at their current levels.
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK