DURBAN – Tsogo Sun is investing R1.6 billion in the KwaZulu-Natal Golden Mile which will see the redevelopment of Suncoast Casino, Hotel and Entertainment.
Tsogo Sun has a portfolio of more than 100 hotels and 13 casinos and entertainment destinations in countries such as Seychelles and the United Arab Emirates.
The investment will create a globally competitive for the province and it is a partnership with both the public and the private sector. The benefits of the investment includes a boost in tourism, growth in gross domestic product and job creation in the province.
An extra 8 000m² of space will be added to the Golden Mile through this project.
Tsogo Sun's footprint on the Golden Mile starts at Garden Court South Beach and reaches until Suncoast at the northern end. The company has five hotels that span 3.3km and it represents a total investment of R370bn in renovations over in the past five years.
Glenn Joseph, the chief operations officer of Tsogo Sun said: "The redevelopment of Suncoast represents the single largest investment by Tsogo Sun into a property in the history of the group."
He said the investment showed the confidence they had in Durban, and would help to position the beachfront as a location to experience the very best in world-class entertainment.
Suncoast was originally constructed in 2002 and it cost R1.4 million.
Earlier this year, the Mayor of the Durban hosted a sod-turning ceremony to mark the opening of the Durban Promenade extension project. The project is located at the opposite of the Suncoast Casino along the Golden Mile and it will cost R300m.
This project includes the extension of the Durban promenade as well as the construction of the Durban Point Waterfront Development.
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- BUSINESS REPORT ONLINE