Westown Square to boost investment

THE launch of the multi-billion-rand Westown Square development in Shongweni, west of Durban, has served as confirmation that Durban's reputation as a fertile ground for private sector investment is on an upward trajectory.

- THAMI MAGUBANE

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.