Retire KZN initiative a success
IT’S been 18 months since the introduction of the Retire KZN, an initiative launched by Tongaat Hulett.
Since its launch, the initiative has established a community of almost 3 000 online members, reached an average
193 000 people monthly on social media and facilitated the commencement of two new retirement developments in the province.
As a result, Retire KZN has helped inject about R1 billion in retirement investments into Kwazulu-natal.
Chris du Toit, the commercial head of developments at Tongaat Hulett, said the initiative has been a success.
“Retire KZN has been a resounding success as it has transformed the perception of retirement in Kwazulu-natal. The interest from property developers looking at Kwazulunatal for opportunities is growing, and with the key insights and information gathered, developers and investors have a better understanding of the needs of the retirement market and are delivering demand-led retirement products,” he said.
“Tongaat Hulett seeks to play a significant role in developmental change in Kwazulu-natal, maximising the value generated by optimum utilisation of land through its conversion to most appropriate land use.
Creating Retire KZN has helped achieve this goal by positioning Kwazulu-natal as a retirement destination, building a solid community and facilitating new retirement opportunities with our development partners across a range of retirement models,” said du Toit.
He said within the short space of time, Retire KZN helped facilitate two retirement opportunities, the Mount Edgecombe Retirement Village and the Shoreline Sibaya retirement village.
Nestled within the North Coast of Kwazulu-natal, Mount Edgecombe Retirement Village was the first retirement introduction to the market and has recently been recognised as one of last year’s top five retirement estates in South Africa by New World Wealth and Afrasia Bank.
Shoreline Sibaya, the second retirement introduction to the market, is the first retirement opportunity within the premier Sibaya Coastal Precinct along the North Coast.
The Retire KZN initiative has also since assisted in profiling Kwazulu-natal as the ideal retirement destination for retirees and developers alike. Boasting year-round warm weather, blue flag beaches, “big five” game reserves, picturesque mountains, the province offers a selection of incredible amenities.
Durban has been ranked as the best South African city to live in by the Knight Frank Global Residential Cities Index 2017.
Through the research and data collected, developers are appreciating market insights such as that 69% of the market is looking for retirement units under R2 million and that security, pet-friendly living and having an on-site care centre are important attributes to incorporate into retirement developments.
Du Toit said its presence has resulted in retirement data analysis, boosted investment into the region and ultimately bolstered the overall confidence in the retirement sector across all levels. – Staff Reporter