Billions for development
Larry Bentley
PLANNING has started on a R19-billon internationally branded entertainment theme park in the Macambini area between the Tugela and Amatigulu Rivers.
This follows a KZN government delegation visit to Dubai in March, led by Premier S'bu Ndebele, where a Memorandum of Understanding was signed for the massive project that will boast residential, hospitality, leisure, medical, education, sport, health and retail facilities
At this meeting, the Ruwaad group committed to investing $2.5-billion (R19-billion) for the project, which will cover 16 556 hectares.
Ruwaad Group Chief Executive Officer, Hayan Merchant, emphasised that the group's aim was to develop a uniquely world-class African destination that has national and international appeal.
Long-term benefits
The impact on total output in the finance and business services sector is expected to be R11.6-billion, R73-billion and R118.3-billion over the short-, medium- and long-term.
During the construction phase the project should create 16 000 full-time or 32 000 half-day jobs per annum in the short term and should stabilise at 16 000 permanent jobs.
'The proposed development will strengthen the North Coast Priority Corridor between Durban and Richards Bay and act as a catalyst for further economic growth and job creation in surrounding areas,' said Merchant.
Ruwaad is planning a cultural and historical focus for the development, centred on a statue of King Shaka Zulu KaSenzangakhona. It is envisaged that if the development gets the go-ahead, it will be implemented in a series of stages with the first stage, the theme park, to be completed during 2012.
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