Here’s what a R76bn masterplan for KZN’s North Coast looks like
KwaZulu-Natal’s North Coast has been home to more than R2,2bn in residential sales year-on-year. Insight into this growth and a real vision for the area has resulted in the largest private landowners within KwaZulu-Natal masterminding a R76bn masterplan for the North Coast, which is already in motion through its first component, Zululami Luxury Coastal Estate within Sheffield Beach.
“KwaZulu-Natal’s North Coast is undoubtedly one of South Africa’s fastest growing residential nodes,” said Murray Collins from Collins Residential. “We are seeing semigration taking place from neighbouring provinces into KZN, especially within the North Coast, as well as a growing tourism and investment demand from around the world. That’s why a R76bn masterplan through various stakeholders has been created to ensure the North Coast demand continues to ‘boom’ exponentially.
“To realise a project of this magnitude it has been imperative to launch key catalytic development products into the market to ensure the longevity of the masterplan. I am proud to say that the R2,5bn Zululami Coastal Luxury Estate was one of the game-changing developments within this area and the first component of this vision.”
Zululami Coastal Luxury Estate launched in December 2016 and has already sold 80% of Phase 1 and is launching Phase 2 this December.
“It’s just shy of two years since launching Zululami to the KZN market,” said Collins. “It has been nothing short of successful. With the work taking place on Zululami, we expect to directly and indirectly employ over 5,000 people. Construction has been in full tilt and as a result we can expect the Gatehouse to be complete by February 2019 and the first transfers to take place within the first quarter of 2019. Zululami will have a massive impact on the KZN economy and masterplan for the North Coast.”
The next major impetus project on the cards for the North Coast, and the next component of this masterplan, is the R10bn development, Seaton, which borders Zululami and covers 411ha and stylishly encompasses an equine district, a lifestyle village, college node as well as a retirement element. Set to launch in the first half of 2019, Seaton will create approximately 3,776 homes and will give both Seaton and Zululami residents direct access to the iconic Christmas Bay. The first phase to be launched within Seaton will be the equestrian component, which has been researched and designed to be comparable to the best in the world.
“We can’t wait to launch Seaton, as it will change the North Coast dynamic and make this side of the region even more irresistible for homeowners and investors across South Africa and abroad,” said Collins. “This will be the second phase of our greater North Coast masterplan which will consist of seven development zones and will extend over a staggering 5,089ha. As a result of the commercial, retail, residential and lifestyle developers who will endorse this greater vision and ultimately invest in the node, the overarching goal is to create over 34,000 residential units, stimulate over R76bn of investment into the area and create some 320,000 jobs.
“This is a mammoth vision that is set to take KZN, especially the North Coast, to new heights and further entrench this province as an investment goldmine. We have engaged with some of the best consultants from around the world, with niche areas of expertise, to help conceptualise a masterplan that will redefine KZN through the application of facets such as equine, schooling, lifestyle experience, resort amenities, direct beach access and unique world-class facilities.”