R1.2 billion Final Phase of the R4.8 billion Oceans Development in Umhlanga, Durban Underway
ZAAR Group is pleased to acknowledge the commencement of the R1.2 billion final phase of the prestigious R4.8 billion Oceans development in Umhlanga, Durban. This landmark mixed-use development is set to further enhance the region’s economic growth and position Umhlanga as a premier destination for luxury living, retail, and hospitality.
The latest phase, valued at R1.2 billion, will see the construction of a 29-floor South Tower, with WBHO awarded the contract to lead the development. This milestone was formally announced during a site visit, marking a significant step forward in the project’s completion.
Commitment to Economic Growth and Job Creation
Business leader and co-developer Vivian Reddy emphasized that the decision to proceed with this phase was reinforced by strong market demand, with the North Tower already achieving 83% occupancy. Additionally, the recent reduction in interest rates has created a more favourable investment climate, further motivating the expansion.
The development is expected to generate approximately 2,400 jobs during the construction period, providing significant employment opportunities, particularly for black women and youth. In line with the project’s commitment to inclusivity, Mr. Reddy highlighted that a formal announcement detailing the unique features of the South Tower will be made in due course.
A Landmark Development for South Africa
As one of South Africa’s largest and most ambitious real estate projects, the Oceans development represents a new era of luxury living and commercial excellence. The project includes:
KwaZulu-Natal’s first Radisson Blu Hotel
Luxury residential towers
A 36,000-square-meter high-end retail mall, featuring world-renowned fashion brands at its exclusive Platinum Walk
This latest investment underscores confidence in Durban’s economic potential, solidifying the city’s status as a dynamic hub for investment, tourism, and business.
Government Endorsement and Investor Confidence
During the announcement, eThekwini Mayor Cyril Xaba reiterated the City’s support for the project, emphasizing the importance of local investment in driving economic progress.
“As much as we welcome foreign investment, when South African business leaders choose to invest locally, it sends a strong message that our economy is stable and ripe for growth,” said Xaba. “This R1.2 billion development, along with the over 2,000 jobs it will create, is a testament to the confidence investors have in Durban’s future.”
City Manager Musa Mbhele echoed these sentiments, describing Durban as a “sleeping giant” now being revitalized by visionary entrepreneurs like Vivian Reddy.
“It is a privilege to work alongside leaders who recognize and unlock the full potential of our city. This development will redefine Durban’s skyline and contribute significantly to the economic transformation of the region,” said Mbhele.
Driving Economic Progress in Durban
The final phase of the Oceans development represents more than just infrastructure growth - it is a catalyst for long-term economic transformation, increased investor confidence, and enhanced tourism appeal. ZAAR Group commends the commitment of stakeholders involved in this visionary project and looks forward to witnessing its impact on the local and national economy.
As a company dedicated to fostering economic development across Africa, ZAAR Group recognizes the importance of strategic investments like the Oceans development in shaping a prosperous future for South Africa.
