Investments total R4?bln

2010-08-27 00:00

EIGHT major developments amounting to investments of over R4 billion in Msunduzi are finally getting under way after years of delays. Municipal coffers will also be replenished to the tune of R37 million as a result of municipal land sales involving these developments.

The biggest projects are in the Edendale area, involving shopping malls at the site of Qokololo stadium and Mason’s Mill. The Eden Gardens Private Hospital is also being built there.

The long-awaited Hayfields hotel and housing complex and the Camps Drift Waterfront projects are finally taking off. Other developments include the Sirius housing estate in the Lincoln Meade area, phase three of the Liberty Mall extension and the Newport filling station.

The old caravan park site and vacant land behind the former polocrosse fields are currently being unbundled from previous restrictive council resolutions and will also be available for sale.

Exco was told that these sales could bring over R50 million into council’s coffers

The previous Exco had sold the caravan park site, but the sale was successfully challenged in court by a business consortium.

Since then the land has lain fallow and no further efforts were made by council to dispose of the site for development.

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