R35 billion plan to transform one of South Africa’s most important cities forever

Property • 30 October 2026 • Kirsten Minnaar

The Durban Point Waterfront development, valued at between R30 billion and R35 billion, plans to transform the Point area into a mixed-use waterfront precinct with residential, commercial, retail and leisure facilities.

The project, which has been in the pipeline for more than a decade, may finally see work begin by the end of 2026, subject to the finalisation of funding arrangements, according to the eThekwini Municipality.

The project is being undertaken by the Durban Point Development Company (DPDC), a partnership between UEM Sunrise and the eThekwini Municipality.

It forms part of the municipality’s broader plan to regenerate Durban’s inner city and attract more residents, businesses and visitors to the area.

The revised Point Precinct Framework Plan was approved in 2015. It provides for approximately 750,000m² of mixed-use development.

This includes high-end residential properties, offices, hotels, retail space and leisure facilities.

The master plan envisages a new neighbourhood alongside Durban’s central business district, with residential and commercial buildings connected to public transport, the beach and the harbour.

Plans include high-rise buildings, some exceeding 55 storeys, alongside historic buildings, public spaces and waterfront facilities.

The development is intended to create a more active urban environment where people can live, work and spend their leisure time.

The municipality has also identified the project as a potential catalyst for broader economic growth, with benefits extending beyond the Point precinct.

According to the project’s published estimates, the completed development could create approximately 6,750 permanent jobs and 11,000 construction jobs.

It could also generate an estimated R200 million in annual rates revenue for the municipality.

However, progress has stalled in recent years, with large portions of the planned development still vacant despite infrastructure work and the completion of the extended promenade.

eThekwini’s Marketing and Communications Director, Mandla Nsele, said the project remained a priority for the city and its development partner, Malaysian property company UEM Sunrise.

He explained that the developer was working with potential investors to advance the next phase, with preparatory work already underway.

“Based on the ongoing due diligence assessments, UEM Sunrise is targeting development to commence by the end of 2026, subject to the conclusion of funding arrangements,” Nsele said.

The project faces challenges

The first phase of the project began in 2017 and included bulk infrastructure upgrades and the development of the Point Promenade.

The municipality has completed the main infrastructure upgrade and water main upgrade packages.

The promenade extension, connecting the area towards uShaka Marine World and Vetch’s Pier, was opened to the public in November 2019.

The new MSC Passenger Cruise Terminal at the Point precinct has also been completed.

These projects helped establish the infrastructure intended to support further private investment in the area.

However, the broader development remains incomplete. Earlier plans envisaged a 10- to 15-year programme of public and private investment.

The remaining phases were expected to introduce much of the residential, commercial and leisure space.

The municipality has previously acknowledged that economic conditions affected the original business model. This prompted the developer to reconsider options that could attract investment.

The next phase depends on securing sufficient funding. Nsele said UEM Sunrise was conducting due diligence, feasibility assessments, concept planning, design refinements and funding viability assessments to advance the project.

The municipality has also acknowledged that infrastructure readiness, public environment management and broader inner-city conditions are important considerations for attracting private-sector investment.

The development’s progress has drawn attention from property professionals who believe it could help stimulate further investment in the Point area.

This includes Mkhongi Circle – which is involved in organising a property summit in the precinct – founder and director, Eric Apelgren.

He explained that the project needed stronger cooperation between public and private stakeholders. “It is important for the project to get off the ground,” he said.

“We need all critical stakeholders around the table – property buyers and sellers, Transnet Property division, the city, national and provincial finance institutions, and private investors.”

Apelgren also called for an Urban Improvement Precinct plan to bring stakeholders together around a shared approach to revitalising the area.

The development has also faced challenges beyond funding, including concerns about the condition of the inner city and the attractiveness of the surrounding beachfront.

Durban has experienced repeated beach closures linked to sewage pollution. At the same time, concerns about crime and deteriorating infrastructure have affected the central business district.

The project has also faced legal challenges over public access to the Durban beachfront.

A settlement reached in 2017 helped resolve a dispute over concerns that the development could restrict access to the beach, and allowed the promenade extension to proceed.

The municipality described the Point Waterfront project as important to retaining and growing Durban’s tourism industry, stimulating economic activity and creating jobs.