Sibaya Coastal Precinct: A R23 billion development supported by eThekwini's road upgrades
The eThekwini municipality is expected to contribute R7,8 million towards a road infrastructure upgrade in Umdloti that will unlock Sibaya coastal precinct housing development north of Durban.
The municipality intends to upgrade the M27 and M4 slip lanes leading to Jabu Ngcobo Drive. The municipality's Economic Development and Planning Committee (ECOD) is estimating that they will receive R3,8 billion in property rates during the 8-year roll-out period of the housing development.
In a report before the eThekwini Executive Committee(Exco) the recovery of the funds is expected to come from the KwaZulu-Natal Department of Transport (KZN DoT).
The Sibaya Coastal Precinct is conceptualised as a living, vibrant community that will contain offices, shops, restaurants, educational institutions, recreational opportunities.
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