Phil de Sylva, IFA Hotels & Resorts Senior Vice President of Operations, recently addressed members of the Ilembe business community on the “Economic Contribution of Property Development to the Ilembe District”.
The networking lunch was hosted by the Ilembe Chamber of Commerce and Industry at the Fairmont Beach Club and was attended by a number of local business people.
de Sylva drew attention to Chapter 10 point 195 (c) of the South African Constitution where it states that “Public Administration must be development oriented” and said that in keeping with this Constitutional obligation and also in recognition of the fact that South Africa was a developmental state, National, Provincial and Local government had formulated development planning at every level to prioritize development.
The KwaDukuza Integrated Development Plan (IDP) therefore has a strong economic and developmental focus and is the foremost planning document for the municipality. Its mission is to maximize the economic status of the region by driving local development and delivering a high standard of essential services. It also encourages public participation by overcoming debt and achievement of cost recovery on services provided.
The KwaDukuza Municipality ranks tenth out of fifty-one municipalities in KZN in terms of broadband coverage. Agriculture contributes a mere 9% to the economy, despite being the greatest land use, while the tertiary sector (finance, real estate, government) remains the largest Zimbali Lakes Resort contributor at 53%. He said that manufacturing, at 27%, was not contributing enough to the local economy and construction only contributed 3.3%.
“The rapidly developing Northern Growth Corridor extends from Umhlanga to Richards Bay and will become the focus of economic growth over the next decade and beyond. An estimated R180bn has already been invested in the region between Durban and Ballito, making it one of the fastest growing areas in South Africa.
“Almost thirty families move here each month from Durban or Gauteng. The proximity of King Shaka International Airport makes it an easy commute and mixed-use developments in the North are encouraging people to benefit from our live, work, play philosophy”, he said.
Research shows that Simbithi and Zimbali Coastal Resort make up 40% of the total Dolphin Coast residential market, accounting for over R1bn per annum in property sales. Around 75% by value of all property transfers on the North Coast are within gated estates.
A number of major developments are in the pipeline for the region and he listed among those IFA’s Zimbali Lakes Resort project, which is the final phase of the Zimbali master plan, the first being Zimbali Coastal Resort.
The Ocean Club – Zimbali development will cost over R800m and is the first of several to be constructed within the Zimbali Lakes Resort. It will be launched to the public later this month.
“Our vision is for a family-oriented resort comprising a well-balanced range of amenities, office space, retail shops and entertainment facilities. Zimbali Lakes Resort will be the final opportunity to secure a Zimbali investment in the greater Zimbali master plan. The project is aimed at discerning buyers seeking to benefit from an active, healthy lifestyle within a secure environment. There will also be more latitude regarding pet ownership.