Estate Living Magazine New Beginnings - Issue 37 January 2019 | Page 33

P R O P E R T Y
&
I N V E S T M E N T
With Ntshongweni comes the creation of compelling and tailored
real estate solutions for developers, investors, future residents and
end users. The retail offering forms the heart of the town centre,
evoking a unique lifestyle destination that seamlessly links indoor
and outdoor spaces. Phase One will be followed by a variety of
other uses including residential, logistics, recreational, warehousing
and leisure components. Deighton comments: ‘This is a solution for
many people living in this area where access to urban services and
amenities is limited and expensive.’
The Mall of the West will give residents and visitors a valuable retail
and entertainment facility with an emphasis on lifestyle-enhancing
elements. In keeping with the rest of the development in phases
to come, its architectural aesthetic will use connected spaces that
create a positive and symbiotic relationship between the built
and natural environments. Nicola Muir, spokesperson for mall
developers Fundamentum Asset Managers, says: ‘The mall will be
at the forefront of building a whole new town to the west of Durban.
Development is expected to proceed in late 2019, with completion
expected in early 2022.’
Ntshongweni’s prime location on the N3, which links Durban to
the economic heartland of Gauteng and the Free State, will bring
substantial economic benefits, especially from the logistics sector.
Deighton says: ‘Linking into this important strategic corridor, the
people-centred Ntshongweni Urban Development will create a
benchmark for the way in which new, integrated, inclusive South
African urban precincts are developed. From urban planning
through to the residential, retail, commercial, recreational, logistics
and light industrial activities, the mixed uses of this area are vast.’
While the development will supply a new destination for
underserviced communities, it will also play its part in active
economic transformation. It’s estimated that Phase One will create
19,000 temporary construction jobs, while the entire development is
expected to generate 400,000 temporary construction jobs during
the 15- to 20-year construction period. On completion, it’s expected
to generate a further 35,000 permanent jobs, R700 million in rates
revenue for eThekwini Municipality, and R5.1 billion in annual tax
revenue. Deighton says: ‘Ntshongweni’s potential to unlock access
to employment opportunities, urban services and amenities will
significantly enhance the quality of life for many people living in
these areas.’
R