The Government has earmarked certain areas throughout the country as having catalytic status and Sibaya is one of them. You may be wondering, what does this mean? By referring to catalytic status, we mean that the development of this area will not only bolster investment into the country, it will make huge strides in addressing socio-economic issues, by creating jobs, developing essential amenities, bridging the gap between communities and creating a sustainable future for South Africans.
Generate investment
One of the important factors of the creation of Sibaya is that it has become one of South Africa’s best performing precincts to date. Both Tongaat Hulett Properties and Devmco Group have invested in excess of R5 billion into the Catalytic Sibaya Precinct, with a further R20 billion planned in the next 5 years. Over R4 billion in residential sales has already been achieved within the first 5 years of development of Sibaya. Additionally, this precinct has already experienced over 40% capital appreciation in 3 years. With such promising capital appreciation, developers continue to choose Sibaya as their development destination and investors and families alike will continue to flock to this North Coast gem.
Bolster employment
Following the Covid-19 pandemic and the national lockdown, it is evident that South Africa will need big opportunities that will create job creation. Construction and development is able to fulfil this requirement and help create thousands of jobs. It is interesting to note that 20% of all jobs in the neighbouring areas are directly employed by the construction and real estate industry. With Sibaya being a new precinct with many years of development planned ahead, we will see a significant amount of jobs created. As it stands, this area has already generated over 5000 jobs, with thousands more to be created still.
Location and communities
Sibaya falls within the North Coast of KwaZulu-Natal, which is one of the most in-demand regions in South Africa. More specifically the corridor between Durban-Umhlanga-Ballito has experienced approximately R54 billion wealth growth in the last decade. The development taking place within Sibaya has a far-reaching effect on surrounding communities, from making travelling within areas safer and more convenient, to creating jobs and being able to get to businesses easily and effortlessly, as well as providing top-class amenities for communities that struggled to access them before.
The Sibaya Coastal Precinct has been declared as a catalytic project and is one of the largest and most significant place-making endeavours of its kind and is setting the benchmark in integrated urban design.
