R 1.3 billion iconic development confirmed for Umhlanga
A one-of-a-kind development to hit Durban shores, Umhlanga Arch is proudly introduced by The Multiply Group, a Durban-based global investment company offering access to proprietary transactions on the African continent. The Group has a 30% stake in Imbewu Capital Partners, a company founded by CEO Gcina Zondi some 11 years ago, and an encouraging example of what can be achieved with skill, hard work, and integrity. Led by CEO Craig Coombe, The Multiply Group is also a major investor in technology, with a focus on changing the lives of people across the continent through improving the ease of transacting, and seeing more communities connected and served in the business-to-business and business-to-consumer spheres.
Prominently positioned on the slopes of Umhlanga’s Ridgeside, this R1.3 billion development is one of the largest mixed-use developments in the province and will undoubtedly bolster tourism, stimulate investment into the region, further elevate Umhlanga and greater Durban to a world-class standing, and facilitate significant job creation.
Not only has Umhlanga Arch already sold 80% of the residential component prior to launching to the public, but it has also already attracted R350 million in foreign investment to the region, confirmed an international hotel operator, and engaged with a number of the country’s top retail brands.
The design began with the unique arch providing the gateway into this premier people-centred development, and is divided into four key components; upmarket offices, first-class retail, a superior hotel, and contemporary apartments. It will offer everything you need in one location, including some trendy restaurants.
“Expect the likes of a concierge service that will handle your laundry and deliver your groceries, a high-tech business centre to host meetings, a well-recognised gym, top-end retail stores, a leading car dealership, and a premium 4-star hotel,” shares Terry Rosenberg, Chairman of The Multiply Group.
He continues, “Umhlanga Arch is going to be a place where you can live a full, productive day without having to venture from your address. Our vision for this development was to create a lifestyle for emerging entrepreneurs, serious business people who are trying to establish a balanced home/work lifestyle, and those individuals who frequent this area and aspire to live within it”.
Amidst the pockets of negative publicity which all South Africans have had to endure, both locally and internationally, The Group remains excited and well-grounded about the potential of the region.
“We believe strongly in the need for economic transformation, and the creation of jobs. In this regard, we continue to be focused on the importance of Private/Public Partnerships. We have worked closely with the Durban Investment Promotion arm of the City Council under Russell Curtis who, together with the guidance of Phillip Sithole, has helped us to engage with Madam Mayor Zandile Gumede, a lady with a sincere vision to bring our city to new heights through projects such as this,” says Rosenberg.
“As a company with its roots firmly entrenched in this province, we remain actively engaged with our city leaders, business, and community, to ensure that local and foreign investors realise the vast potential that KwaZulu-Natal has to offer. We are highly motivated by the sentiments expressed by CBRE, the leading global real estate services provider, who commented that Umhlanga is one of the top 20 real estate regeneration projects in the world”.
What makes our region so exciting? Take a look at these facts:
- CNN voted Durban/Ethekwini as one of the world’s most underrated cities;
- Durban Harbour is the busiest shipping terminal in Sub-Saharan Africa, with 4500 commercial vessels per year moving 74 million tonnes of cargo;
- The Ethekwini Municipality has one of the best credit ratings in the Municipal sector (A1+ short term and AA- long term);
- The City has an unqualified auditor report;
- Has laid 2000km of broadband fibre;
- The Dube Tradeport, now a special economic zone with real corporate benefits, is ideally positioned for new generation manufacturing, warehouse, logistics and distribution. It has a capacity to handle 100 000 tonnes of cargo and is located 45-minutes from the city and port. Please see the video link included in the press packs.
- At 3.7km long the King Shaka International Airport runway can accommodate the world’s largest aircraft with meaningful excess capacity to handle over 5 million passengers. Don’t forget we’re on the route to the East (one of the markets with the highest potential for us) as well as the Gateway to Africa.
- Knight Frank International Residential City Index 2016 placed Durban in the first position for residential investment performance for the whole of Africa, and one of the top 50 cities globally.
To add to this exciting picture, Umhlanga Arch is collaborating with Tongaat Hulett, who have the most enviable reputation for successfully transforming agricultural land into superior real estate. The result is a region of great promise. “Due to the fact that our project will be creating a significant number of jobs, we have made the decision to support and holistically integrate Tongaat Hulett’s Socio-Economic, Sustainability and Innovation Programme (SSIP) into all pre-and post construction and socio-economic related activities stemming from this progressive development,” confirms Rosenberg.
Commenting on the traction achieved with this one developer in particular, Sithembiso Mthembu, Tongaat Hulett’s Executive Head of Development, noted, “While the SSIP is still in its infancy, in just the area of job placements alone, we have successfully made over 2000 placements in the last 12 months, and this relates specifically to just Tongaat Hulett’s activities. If all our development partners were to embrace the programme as robustly as The Multiply Group has done, we would comfortably achieve 10 times this amount in the same period.”
He continues, “The commitment to drive the SSIP through Umhlanga Arch’s development process is reflective of a developer who is progressive in thinking and committed to making an impact both within the industry and in the lives of the people in the surrounding communities. The Multiply Group must be commended for embracing the powerful platform that the SSIP creates, and heralded as an outstanding example of taking property related economic transformation seriously”.
Conceived in 2014 by Tongaat Hulett, the SSIP was established with the key purpose of facilitating and creating local, community-based social and economic transformation across the full value-chain of property development. The initiative is premised on 5 key pillar; Social and Economic Opportunity Analysis, Skills Development, Enterprise Development and SMME Business Incubation, Opportunity Linkages and Sources of Income Opportunities.
In recognition of the value of this leading transformative programme, Rosenberg affirmed, “We have embraced Hulett’s vision of ‘Better Together’ and we look forward to seeing the local communities benefit for many years to come, not only through the immediate construction opportunities that exist, but in the post construction phase too, where retail, hospitality, open space management, security and many opportunities will become available in time”.