The Durban Point Waterfront, launched in 2003 on one of the city's most derelict and barren - yet prime - real estate sites, is rapidly taking shape and promises to soon become one of SA's best addresses.

Over the past two years as much as R1bn has been committed to the development of infrastructure and building complexes. This excludes R735m for uShaka Marine World, which opened in May 2004.

When complete it is anticipated that investment in the Durban Point Waterfront will be in the region of R6bn.

Most of the sites have mixed-use zoning and developers are being encouraged to use the ground floor of buildings for retail purposes, entertainment and restaurants that open out onto sidewalks and the canals.

In Phase One, 25 sites (145000m² of bulk), amounting to R146m, have been sold resulting in14 mixed-use developments of residential, offices, hotels and retail outlets - all of which are at various stages of planning and construction.

A breakdown of usages so far shows 67% is residential, 15% hotels, 11% retail and 7% offices and showrooms.

Building is due to start in the next few months on Shaka's Gate - a mixed-use development featuring 1900 parking bays, retail space and more than 220 apartments and offices.

The Durban Point Development Company is planning to release a further 35000m² of bulk valued at R60m during the course of this year. About 75% of the 900 residential units on the market are already sold, with the residential component selling at an average price of R12000/m²-R18000/m².

The first half of this year promises to be exciting for the Durban Point Waterfront with Harbour View Heights being the first new high-rise development to be completed.

A portion of the Victorian row houses of Dock Point are complete with residents due to take occupation shortly.

To date the Durban Point Development Company has spent more than R68m on infrastructures and a further R396m is projected to be spent up to the end of 2012. These costs relate to the upgrade of Point Road, the creation of the canal system, security installations, the small craft harbour and the provision of bulk services.

The legal approvals process for the development of the small craft harbour at Vetch's Pier is also progressing well.

As part of the guiding principles for the small craft harbour a safe swimming and learner surfing area are proposed, as is safe snorkelling around the pier, launching for ski boat clubs and 250 moorings. Public access to the beach will be permitted along the entire sea edge.

A lock system will connects the deep and shallow water canal system to the small craft harbour, which will allow the boats access to the canal system.

The impetus for the development of the waterfront came from the need to reticulate purified water from uShaka Marine World back to the sea via a canal. This led to the idea of creating a unique waterfront city in which the canals form the spine of urban redevelopment where the economic benefits of water frontage are extended throughout the area.

While the overall theme of this quality urban environment is "African Urbanism" with textures, colours and materials that speak of Africa, there is variation in the design of the different apartment blocks as some retain their historical essence.

A management association has already been set up which, in conjunction with private development facilitation companies, will manage all public areas including parks, the beach and coastal dunes, and maintain infrastructure such as roads, storm water, sewerage and lighting throughout the precinct.

A key aspect is security, which is critical to rejuvenating one of Durban's most historic urban areas and entrenching the Durban Point Waterfront as a safe world-class and well-managed environment. A powerful CCTV camera system manned from a central control room with on the ground security staff and radio contact with the police aims to curb crime.

The initiative is not an attempt to extend the city fabric, nor is it intended to transform the area into an extended theme park or tourist resort. Rather, it hopes to develop as an important, well-defined addition to the city and become a sought after place to live, work and play.

• For further information on land sales, please contact Colin Sher on (031) 337 3460