Africa-Press – South-Africa. DURBAN – Phase one KwaZulu-Natal development, Salta Sibaya, is set to create 3 500 jobs, this is according to Devmco Group director Charles Thompson.
The group said the retail, commercial, and maintenance components of the development will create 300 – 400 permanent jobs.
Salta Sibaya, Devmco Group’s newest development, was launched on Saturday. The development is on the KZN North Coast along the Sibaya coastal precinct.
Thompson said the project would help the region and the country’s economy by creating jobs for locals.
“With Salta Sibaya, we will now see 300 000 direct and indirect jobs unlocked over the entire construction period of the Sibaya coastal precinct as a whole.”
The development offers two- to four-bedroom homes. The price ranges from R2.95 million to R3.9m.
According to Thompson, the development attracted investors thanks to its location. The development is close to the sea, the King Shaka International Airport, and uMhlanga.
“We have officially made close to R1.1 billion in sales today for Salta Sibaya. It is the first time in 6 years that a housing development in KZN has achieved this at its launch,” said Thompson.
Pam Golding area principal Farrah Williamson said the appeal of the KwaZulu-Natal North Coast was growing exponentially.
“Home buyers are looking at the North Coast to buy property as new schools and commercial developments are in the pipeline for the region.”
She added that consumers were looking for a more balanced life and affordability in an appealing environment.
“KZN North Coast ticks all the boxes, resulting in not only local home buyers buying homes but many others from Gauteng and other provinces.”
According to property research company, Lightstone data has shown that growth in coastal house price inflation has been outperforming non-coastal since Q2 2014, demonstrating a sound return on investment.
From January to October 2020 (most recent data), coastal house price inflation averaged 3.15 percent compared to 2.59 percent for non-coastal.
BUSINESS REPORT ONLINE
