Investors snap up uMhlanga Arch mixed use landmark
CONSTRUCTION is due to start at the end of the year on a new landmark R1.3 billion development in uMhlanga.
The uMhlanga Arch, which will boast the highest rooftop pool on the coast, was officially launched last week, but even before then, 80% of the residential part of the development had been snapped up by investors. Destined to be one of the biggest mixed-use developments in the region, it has already attracted R350 million in foreign investment.
A big name international hotel operator has also been clinched, but the name is being kept under wraps until the hotel makes its own announcement. uMhlanga Arch, which will take shape on Ridgeside, is being undertaken by the Durban-based global investment company The Multiply Group, whose chairman is the well-known Terry Rosenberg.
The design will feature an arch which will provide the gateway into the development, which is divided into four key components: upmarket offices, first-class retail, the hotel, and contemporary apartments. The developers say it will offer a concierge service, restaurants, a gym and a leading car dealership.
The group is collaborating with Tongaat Hulett, which has an international reputation for transforming agricultural land into superior real estate.
As the project will create many jobs, the group has decided to support and integrate Tongaat Hulett’s socio-economic, sustainability and innovation programme (SSIP) into all the pre- and post-construction activities at uMhlanga Arch. Sithembiso Mthembu, Tongaat Hulett’s executive head of development said the project reflected “progressive thinking”. The construction deadline is set at 2020. Attending the official launch of the uMhlanga Arch last week were, from left: Sithembiso Mthembu, Tongaat Hulett’s executive head of development said the project reflected “progressive thinking”.
The construction deadline is set at 2020.