KZN master plan for growth on N Coast

THE largest private land owners in Kwazulu-natal are masterminding a R76 billion master plan for the province’s North Coast.

Impetus for the development of the master plan has come from the continuous development, growth and investment in the North Coast, with more than R2.2 billion worth of residential sales taking place annually and increased and growing investment in the area by many of South Africa’s prominent property funds and developers.

The R2.5 billion Zululami Luxury Coastal Estate in Sheffield Beach has already set in motion the first component of the master plan.

Murray Collins, chief executive of Collins Residential, said the

R10 billion Seaton development, which was set to be launched in the first half of next year, was the next major impetus project on the cards for the North Coast.

“This will be the second phase of our greater North Coast master plan, which will consist of seven development zones and extend over a staggering 5 089 hectares.

“As a result of the commercial, retail, residential and lifestyle developers who will endorse this greater vision and ultimately invest in the node, the overarching goal is to create over 34 000 residential units, stimulate R76 billion of investment into the area and create 320 000 jobs.

“This is a mammoth vision that is set to take KZN, especially the North Coast, to new heights and further entrench this province as an investment goldmine,” he said.

Collins said it had been imperative to launch key catalytic development products into the market to ensure the longevity of the master plan.

He added that they had engaged some of the best consultants from around the world, with niche areas of expertise to help conceptualise a master plan that would refine Kwazulu-natal through the application of facets such as equine, schooling, lifestyle experience, resort amenities, direct beach access and unique world-class facilities.

“The R2.5 billion Zululami Coastal Luxury Estate was one of the game-changing developments within this area and the first component of this vision,” he said.

Collins said Kwazulu-natal’s North Coast was undoubtedly one of South Africa’s fastest-growing residential nodes, with semigration taking place from neighbouring provinces into Kwazulu-natal, especially within the North Coast, and growth tourism and investment demand from around the world.

“That is why a R76 billion master plan through various stakeholders has been created to ensure the North Coast demand continues to ‘boom’ exponentially,” he said.

Launched in December 2016, the Zululami Coastal Luxury Estate spans more than 140 hectares and 80 percent of the 128 development stands in phase one have already been sold, with phase two launching in December.

Initial demand in the first phase was so great that an additional 100 stands were released five weeks after launch to satisfy purchases.

“Zululami will have a massive impact on the KZN economy and master plan for the North Coast,” said Collins.

Covering 411 hectares, the Seaton development borders Zululami and will result in the construction of about 3 776 homes.