This view was expressed by business and political leaders after the launch of the first phase of this historic development.
Fundamentum Property, the developers behind this project, are optimistic about the Durban economy, to the extent that they are planning another multi-billion-rand development in Cornubia.
Carlos Correia, developer and CEO of Fundamentum Property, said further details about the new project will be shared in the coming months.
The company launched the "city centre", which will serve as the anchor for other developments, including a hotel, housing, and a hospital. The first phase represents an investment of R1.5 billion.
Delivering his address at the launch, Correia reaffirmed confidence in the city's economy and its potential to attract investment.
"We have heard the previous mayor (Mxolisi Kaunda) say Durban is open for business; we say, Durban has never been closed for business. The reason we invested here is that we are Durban residents and ratepayers, and we have always believed in the city, even when there were naysayers after the floods, riots, and challenges the city has faced. We never left; we always remained here to invest in the city of eThekwini," he said.
Correia expressed satisfaction with the project. “Today, out of our 520000 square-metre site, we are launching 49000 square metres, which is under 10%. For the next few years, there will be extensive building, and hopefully, like the mayor said, it will become the next Midrand between Pietermaritzburg and Durban.”
He provided insights into the scale of the completed work at the first phase of the Westown development: “Here in Westown Square, we have laid 6 million bricks, completed 66000 square metres of paving, and used nearly 700000kg of structural steel. We have moved soil from 45000 truckloads, which does not include an additional 1.6 million cubic metres that were moved on the roads between the M13 and the N3 into Westown Square. We have poured 4000 cubic metres of concrete just on the roads and planted 300000 plants. We have our own nursery that started with the community,” he said.
Correia encouraged the city to continue helping to create opportunities for business by investing in bulk infrastructure.
“The initial R600 million investment made by the city in infrastructure has now attracted about R5 billion in investment, with R1.5bn opening today and R600m for the new hospital expected to commence construction in the next two months, among other developments.”
He said the proud moment was the jobs created. “We have 1800 people on site working, averaging 1000 over the past few months...
Fundamentum Property, the developers behind this project, are optimistic about the Durban economy, to the extent that they are planning another multi-billion-rand development in Cornubia.
Carlos Correia, developer and CEO of Fundamentum Property, said further details about the new project will be shared in the coming months.
The company launched the "city centre", which will serve as the anchor for other developments, including a hotel, housing, and a hospital. The first phase represents an investment of R1.5 billion.
Delivering his address at the launch, Correia reaffirmed confidence in the city's economy and its potential to attract investment.
"We have heard the previous mayor (Mxolisi Kaunda) say Durban is open for business; we say, Durban has never been closed for business. The reason we invested here is that we are Durban residents and ratepayers, and we have always believed in the city, even when there were naysayers after the floods, riots, and challenges the city has faced. We never left; we always remained here to invest in the city of eThekwini," he said.
Correia expressed satisfaction with the project. “Today, out of our 520000 square-metre site, we are launching 49000 square metres, which is under 10%. For the next few years, there will be extensive building, and hopefully, like the mayor said, it will become the next Midrand between Pietermaritzburg and Durban.”
He provided insights into the scale of the completed work at the first phase of the Westown development: “Here in Westown Square, we have laid 6 million bricks, completed 66000 square metres of paving, and used nearly 700000kg of structural steel. We have moved soil from 45000 truckloads, which does not include an additional 1.6 million cubic metres that were moved on the roads between the M13 and the N3 into Westown Square. We have poured 4000 cubic metres of concrete just on the roads and planted 300000 plants. We have our own nursery that started with the community,” he said.
Correia encouraged the city to continue helping to create opportunities for business by investing in bulk infrastructure.
“The initial R600 million investment made by the city in infrastructure has now attracted about R5 billion in investment, with R1.5bn opening today and R600m for the new hospital expected to commence construction in the next two months, among other developments.”
He said the proud moment was the jobs created. “We have 1800 people on site working, averaging 1000 over the past few months...
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The Mercury (Digital) - 1 Issue, March 28, 2025