DURBAN - More than R1.5 billion will be pumped into the development of a new mall in KwaDukuza that is hoped to create more than 2400 jobs during its construction.
Part of the development will include a shopping mall, medical suites and an office precinct.
Durban businessman and the brains behind the project, Vivian Reddy said this was the biggest investment in the history of iLlembe district.
It is set to open in 2018.
Thirty per cent of the retail space will be reserved for local businesses while 85 per cent of other retail space will includes anchor stores like Woolworths.
According to the developers, R1.9 billion in local business sales will be injected into the community.
Despite downgrades of the country by ratings agencies, Reddy said we should look in the long term as this is not the first time the country has gone through a downgrade. He said people should look at long term prospects which are good. He said he wanted the KwaDukuza Mall to be a world class mall.
KwaDukuza mayor Ricardo Mthembu thanked Reddy for the investment and said despite challenges that faced the construction of the mall like court cases that challenged the construction they would make naysayers see the value of the project and that the project will benefit locals by giving them skills that they will be able to use long after the construction of the mall and complex.
Sihle Zikalala MEC for Economic Development and Environmental Affairs said: “It will unleash new business and opportunities that this area so desperately needs.”
This comes hot on the heels of the Ballito Junction which had been expanded from 10 000 square metres to more than 60 000 square metres.
He said it was important that it was a mixed use precinct and that thought was behind it as it would not become another white elephant and would be sustainable in the long term.