International investors are eyeing opportunities at the Point Waterfront in the wake of the historic settlement agreement between the developers and opponents.
The groundbreaking compromise deal struck between the Durban Point Development Company (DPDC), and The Save Vetch’s Association (SVA) and the Durban Paddle Ski Club signed at the end of last year ended 10 years of legal wrangles – and has now sparked renewed interest in the multibillion-rand strategic project.
“An increased interest from national and international investors has been noticed since the agreement,” a spokesman for the DPDC said on Wednesday.
Most of the interest has been for a parcel of land known as the “retail quarter”, which has retail, residential, office and hotel rights, with the retail element being integrated with the current uShaka retail offering.
The development is being marketed by Trade & Investment KZN, which has access to international investors looking for opportunities.
It is also one of the KZN Growth Coalition’s priority projects.
There had been “added interest” for the three hotel sites near uShaka’s overflow car park.
The sites could also be consolidated into one, and there had been interest in a few permutations, the DPDC spokesman said.