THE city has commissioned a study into funding a R250m expansion project for the International Convention Centre (ICC) in a move that could attract additional hotel development, says Alec Gilbert, ICC CEO.
The new expansion plan follows a R38m expansion project completed ahead of this month's tourism showcase exhibition Indaba.
Since opening in 1997, Gilbert says the centre has generated R2,5bn additional income for KwaZulu-Natal and hosted 1500 events for 800000 people.
Large-scale conferences include the Commonwealth Heads of Government, the Non-Aligned Movement Summit and the International AIDS Conference.
Last year Durban won the bid to host Indaba for another three years, which Gilbert says was principally awarded on the guarantee that the ICC had the additional space available.
He said phase two of the development involved building another plenary facility with retractable seating to accommodate sporting events and concerts and establish another revenue stream for Durban.
On completion, the ICC, the adjoining Durban Exhibition Centre and the new extension will offer conference delegates up to 30000m² of exhibition space.
He says the city fathers are commissioning a study into different funding options, with an announcement expected later this month. Potential alternatives include a public-private partnership or funding wholly from city coffers.
The city funded the initial R280m centre, among the last major decisions taken by the formerly exclusively white city council.
Gilbert says Durban's hotel infrastructure determines the maximum size of conferences to Durban. The 13000 delegates who attended the International AIDS conference in 1999 stretched the city to its limits. He says expanding the ICC will be a catalyst for attracting further hotel development to Durban.
May 16 2003 07:09:11:000AM Business Day 1st Edition
THE city has commissioned a study into funding a R250m expansion project for the International Convention Centre (ICC) in a move that could attract additional hotel development, says Alec Gilbert, ICC CEO.
Latest from eProperty News
- Love and property: a homebuying guide for couples
- From Civic Landmark to Collaborative Hub: A New Era for Muizenberg’s Post Office
- Growthpoint breaks ground on Tecoma Park, Cornubia, advancing its local logistics strategy
- Rosebank Mall adds Livo to its lifestyle line-up
- 166 sectional title units in the iconic Parktonian Hotel, located in the heart of Braamfontein, Johannesburg
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.