| Tue 18 Dec 2007, 12:41 | | TON - Tongaat Hulett: Media Release - Tongaat Hulett receives approval for its |
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TON - Tongaat Hulett: Media Release - Tongaat Hulett receives approval for its
Umhlanga Ridgeside Development
Tongaat Hulett Limited
(formerly The Tongaat-Hulett Group Limited)
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: MEDIA RELEASE - TONGAAT HULETT RECEIVES APPROVAL FOR ITS
UMHLANGA RIDGESIDE DEVELOPMENT
Tongaat Hulett received confirmation that the eThekwini Municipality has
approved the Development Framework Plan for Umhlanga Ridgeside. The 140 hectare
development will be done in phases of innovatively combined commercial,
residential and leisure developments.
CEO Peter Staude says, " The approvals unlock significant opportunities to boost
economic growth and job creation in the area. Umhlanga Ridgeside will facilitate
development comprising 150 000 m2 of commercial/mixed use space, 100 000 m2 of
offices and 3 000 residential units which is estimated to attract R8 to R10
billion in investment to the area, is expected to generate 65 000 construction-
related jobs and 16 000 permanent jobs, as well as over R50 million per year in
rates income."
The eThekwini Municipality has proactively dealt with the overall Development
and Infrastructure Framework Plan for the entire development, in order to ensure
a fully sustainable development that does not overburden existing services and
infrastructure.
"The Development Framework Plan for Ridgeside is a robust and sustainable
framework that provides a basis for management of the entire site. It is a tool
that ensures integration with the immediate surrounds as well as responds to the
sub-regional context, commented Lekha Allopi, Manager: Land Use Management
Systems, eThekwini Municipality.
"The location presents an opportunity that very few sites in the City do. From
an economic perspective the mix of land uses will provide sustainable jobs and
the site enjoys good linkage to the main transport routes. The site also
reinforces the mixed and multi-use urban environment, at the same time still
preserving residential amenity. The provision of public transport has been
another significant turning point in this development and the principle of "new
urbanism" will be further endorsed by the high level of pedestrianisation of the
area," she said.
Tongaat Hulett has a successful working relationship with the eThekwini
Municipality and the two parties recently received the main Partnership award at
the FNB KZN Top Business Portfolio Awards. The awards, which recognize
organizations that ascribe to best practices and contribute to the province`s
socio-economic growth, acknowledged the extremely successful Riverhorse Valley
Business Estate, a joint venture between Tongaat Hulett and the eThekwini
Municipality.
"We have worked closely with Tongaat Hulett over the past few years and this
relationship has changed the landscape of many areas within our region for the
better. We look forward to the development of Umhlanga Ridgeside that will bring
with it a new quality environment for everyone to enjoy," said City Manager
Michael Sutcliffe.
"While sugarcane farming is an important agricultural sector, it seemed a pity
that the most prized land in our city was used to grow sugarcane. We are
grateful to Tongaat Hulett for their foresight in agreeing to develop this land
for commercial and residential use, that can only lead to the betterment of our
eThekwini region and its people."
Location and Infrastructure
The development area has prime sea views and is bounded by the M41 highway, the
M4 coastal provincial road, and Umhlanga Rocks Drive. "Tongaat Hulett`s
comprehensive plans for infrastructure and access to Ridgeside, including road
upgrades and the management of traffic and other bulk infrastructure impacts,
were pivotal to the Record of Decision and subsequent rezoning," said Staude.
"There are a number of milestones that we have committed to in order to commence
work on each phase of the development. The initial development will be a mixed-
use area adjacent to Umhlanga Rocks Drive and a commercial office area created
alongside the M41."
"The mixed-use area will encompass a 40 000m2 Zenprop Design Quarter and a 10
000m2 Mr Price concept store, as well as a number of new Hotel/Resort
developments. R1.3 billion is being invested in an 80 000m2 Resort, which will
cater for thousands of visitors to the region each year. This is one of three
hotels planned for the development, two of which are marked as five-star
facilities, which would be an excellent opportunity for the upcoming 2010
Football World Cup. The commercial office area will feature a 100 000m2 office
park, which includes new regional head offices for several leading national
companies."
Peter Staude concludes, "Future phases comprise primarily residential units, and
once complete will create a total of approximately 3 000 residential units
throughout Ridgeside, ranging in price from R250 000 all the way to R4 million.
Infrastructure Upgrades and Environmental Aspects
Tongaat Hulett Development`s director, Michael Deighton, confirmed that "road
upgrades will include the creation of new interchanges and access routes, as
well as additional lanes, turning lanes and signalised intersections on existing
roads, and these will be phased and managed so as to create a minimum of
inconvenience to current road users. The first of these, scheduled for early
2008, will be an upgrade of a section of Umhlanga Rocks Drive, north of the
Seaview Interchange (M41), and the construction of the new Ridgeside Drive.
Water, electricity and sewerage infrastructure have similarly been planned and
will be implemented, in conjunction with the Local Authority, on a phased
basis".
Ridgeside`s planning is closely aligned with a comprehensive environmental
management programme. A 40-metre buffer zone has been set aside to protect the
remaining coastal forest that borders the development area, and while there`s no
question that this will be a bustling urban hub, designs also feature natural
open spaces, parks, walking and cycling paths.
Living in Umhlanga Ridgeside
"In line with global best practices and the `New Urbanism` principles which
underpin Umhlanga Ridgeside`s design, the development will not only mix
commercial and residential environments, it will also bring people together as
part of a vibrant new community," explains Deighton. "Umhlanga Ridgeside will be
an energy-filled, cosmopolitan hub, with broad, tree-lined boulevards, well-
maintained public spaces and natural conservation areas."
A management association will be responsible for maintenance of public areas
within the development, from parks to street furniture, and will also be
responsible for security measures. Umhlanga Ridgeside is an open development and
part of its attraction is that it is available to all, but that does not come at
the expense of security, which is inherent in spatial planning. CCTV and
security personnel will also monitor the entire area.
"Residential options will range from stand-alone units to four- to eight-storey
apartment blocks, and from absolute luxury through to practical affordability,
without compromising on quality," Deighton concluded, "Just one more arena in
which Ridgeside is creating significant opportunities for growth."
About Tongaat Hulett
Tongaat Hulett is an agri-processing business which includes the integrated
components of land management, property development and agriculture. Through its
sugar and starch operations in Southern Africa, Tongaat Hulett produces a range
of refined carbohydrate products from sugar cane and maize. It has considerable
expertise in downstream agricultural products, bio-fuel production and
electricity co-generation. Competition for alternative land usages is increasing
rapidly. Tongaat Hulett balances the operational requirement for cane supplies
to its sugar operations with the transition to property development. It is well
positioned to benefit from the changing world of agriculture/agri-processing and
the increasing demand for land.
Tongaat
18 December 2007
Sponsor
INVESTEC BANK LIMITED
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