Residential demand is high and growing in Durban, offering many investment opportunities. Tongaat Hulett’s key strategies as a sustainable property developer, are to accommodate this demand by focusing on well-located land, appropriate density, the incorporation of flexibility and mix of land use, diverse residential typologies and tenure options, and the establishment of organised and empowered communities.
An accelerating and promising trend is the emergence of more inclusionary neighbourhoods that create a greater mix of income groups. The opportunity to introduce retirement properties and shared amenities in an integrated manner is a driving consideration in this sector.
These development opportunities give young families and first time property buyers access to affordable housing options with proximity to work, leisure, entertainment and business districts. Defined as incorporating a price range for completed residential units of between R350 000 and R800 000 and catering to households with a combined monthly income of R12 000 to R35 000, these proposed urban neighbourhoods are interwoven with Tongaat Hulett’s greater, sustainable development strategies.
This market consists of higher-earning households and often those upgrading from an existing home. Property investment in this market is still on the rise in the uMhlanga region, with significant potential in the opening of new markets in the Ntshongweni area west of Durban and around Ballito.
Tongaat Hulett has garnered considerable renown as a residential property developer through brands such as Mount Edgecombe, Zimbali and Izinga. These high-quality real estate developments have sold extremely well in the uMhlanga region and new opportunities with strong economic viability are being opened up at locations west of Durban and north of Ballito.
KwaZulu-Natal’s great year-round weather, long stretches of pristine coastline and access to a spectacular variety of leisure and local tourism attractions, as well as medical and urban amenities, makes it the ideal place for retirement. The opportunity to mix retirement with other uses and shared amenities (e.g. healthcare) at scale and in an integrated manner, is a significant benefit of Tongaat Hulett’s regional property development platform. Recently launched, the www.retirekzn.co.za campaign has started driving demand into the province from a retirement investment perspective.
This sector consists of social facilities such as educational, medical, retail, filling station and other amenities, developed to support and create value for the communities of expanding residential neighbourhoods. A growing trend is provision of these amenities in a mixed-use format, facilitating easy walking and access. Relationships with the key government departments are being strengthened to facilitate joint planning for optimal delivery of such amenities.