PICS: R3,5bn The Pearls Umhlanga is officially complete
DURBAN - KwaZulu-Natal development, The Pearls Umhlanga celebrated its completion after 15 years at an event with its three developers Anant Singh, Nico van Rooyen and Sudhir Prajgee.
The development which is worth R3.5bn, houses 700 apartments and 60 shops. It has also created 16000 jobs. Singh said that The Pearls Umhlanga is 15 years in the making and called it an iconic development that can stand on the global stage.
MEC of Economic Development, Tourism and Environmental Affairs Sihle Zikalala was also present at the event. Zikalala said that the completion of The Pearls Umhlanga is a milestone.
"It gives me pride and joy that this iconic Pearls of Umhlanga landmark has transformed the Umhlanga skyline," said Zikalala.
He added that was in awe of the huge investment in excess of R3.5 billion made by the developers and said it is one of the largest private sector investments in the eThekwini region.
One of the developers, Sudhir Prajgee highlighted some of the achievements of The Pearls Umhlanga including the sale of 300 apartments in hours and they made R1 billion in one day.
Earlier this year the development added that a hotel called The Capitals Hotel & Apartments. The new hotel was the fifth phase of The Pearls Umhlanga. The hotel offers 140 apartments and conference facilities.
Fawzia Peer, the Deputy Mayor of Durban, who was also event highlighted the bright future of construction and property in Durban and said that The Pearls Umhlanga will have a positive effect on the economy.
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