INDUSTRY EXPERTS
INDUSTRY EXPERTS
Tongaat Hulett Developments open for business
When realised inclusively, agricultural land conversion generates impressive returns – not just infrastructure investment and public sector income, but also profound social benefits, including sustainable employment and local economic development.
Tongaat Hulett is still primarily what it has always been: a major agribusiness involved in farming, milling and refining sugar cane throughout Southern Africa. But for the past 25 years its development division has also been converting surplus agricultural land into infrastructurally serviced real estate for residential, commercial, industrial, resort and mixed-use developments in KwaZulu- Natal. With an all-inclusive approach to land conversion, it has set out to achieve the strategic objective of unlocking maximum value for all stakeholders invested in the 8 000 hectares of developable land under the company’ s ownership.
Tongaat Hulett Developments sets the benchmarks and parameters from which development unfolds. In addition to a development framework, the company provides the platforms for future built environments. These include establishing and communicating the urban vision, implementing infrastructure and environmental best practice, and establishing security and urban management structures.
INFRASTRUCTURE
Infrastructure installation is a prerequisite for maximising the value of land before selling it to developers. For smaller-scale projects, Tongaat Hulett’ s public infrastructure spend is recovered through the sale of land, while the installation of medium-scale( metropolitan) and large-scale( regional) infrastructure often requires collaboration with governmental agencies.
Tongaat Hulett works in close collaboration with local and national government to support and drive the requisite infrastructure delivery on converted land, for the improvement of services delivery and urbanisation.
“ It is an imperative to work closely with the authorities to address challenges associated with infrastructure capacity and delivery. This is in an effort to find sustainable, solid solutions,” says Mike Deighton, managing director of Tongaat Hulett Developments.