Tongaat Hulett is inviting offers for its last remaining stands at the Umhlanga Ridge Town Centre

With previous offerings virtually sold out, the last available residential estate investment opportunity in the Umhlanga Ridge area is opening up for an astute developer.

Tongaat Hulett says it has concluded a deal with a local black-owned company, through the sale of prime land at its Cornubia Business Hub in KwaZulu-Natal.

Thursday, 27 March 2014 15:09

Tongaat Hulett takes flak over land sales

Tongaat Hulett shareholder believes the group is taking the wrong tack as it battles the 'strong headwinds' facing sugar producers.

Tongaat Hulett will release 42 of the remaining 62 hectares of Ridgeside, its iconic development on Umhlanga Ridge,to the market as a single transaction in the first quarter of 2014. 

The inter-governmental, multibillion Rand Cornubia Development, situated north of Durban, is underway and has just received a major boost after the South African National Roads Agency Limited (SANRAL) agreed to fund the bulk of R830 million N2/M41 interchange.

Springfield Park, Riverhorse Valley, Briardene and Mount Edgecombe are fast emerging as industrial hotspots in Durban North.

Tongaat Hulett’s property development profits are still relatively small compared with its sugar and starch operations, but the outlook for the division is no less exciting, CEO Peter Staude said on Friday.

Monday, 18 February 2013 10:21

New model needed for SA rental market

SOUTH African businesses and financial institutions need to seriously explore an alternative funding mechanism that could turn rental housing into some form of equity buildup for middle-income earners who do not qualify for bonds or government housing subsidies, says Tongaat Hulett CEO Peter Staude.

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