Durban Chamber of Commerce and Industry president Musa Makhunga, speaking to Network following the KZN Construction Expo last week, said there were several successful projects and opportunities in the province that had bucked the economic slump and others that could contribute to an upturn.
The expo brought together more than 2 750 stakeholders involved in construction and infrastructure projects in the region to address strategic issues around funding, collaboration, project delivery and sustainability.
“There are several construction projects like the completed Suncoast Casino Complex revamp and the planned Oceans Mall Development plus numerous commercial and residential developments in uMhlanga and Cornubia. The Durban Chamber believes that more should be done with the CBD,” Makhunga said.
In March last year at the soil turning of the city’s largest construction undertaking, the R35 billion Durban Point Waterfront Development, eThekwini mayor Zandile Gumede estimated that the city’s ambitious project would create 11000 jobs annually over 15 years as well as 6 750 permanent jobs. The development is expected to boost surrounding property values by approximately 10% and property values in the CBD by 5%.