R3.6 billion Beachwood Coastal Estate launched by eThekwini Mayor, set to create thousands of jobs
Durban North is set for a major transformation with the launch of the R3.6 billion Beachwood Coastal Estate – a landmark development that promises to reshape the city’s skyline and boost its investment appeal.
Officially unveiled by eThekwini Mayor, Councillor Cyril Xaba, the project marks a significant milestone in the city’s ongoing drive to attract large-scale investment and stimulate job creation.
Describing the initiative as a “historic milestone and catalytic project,” Mayor Xaba said the development demonstrates that Durban is open for business and evolving as a leading construction and investment hub.
“The Beachwood Coastal Estate is the outcome of what can be achieved through government and private sector collaboration. I would like to congratulate developers Edstan Group, eThekwini Municipality, and the provincial government for their partnership in bringing this project to life,” said Mayor Xaba.
The launch event on October 24 was attended by key provincial and business leaders, including MEC for Economic Development, Tourism and Environmental Affairs Rev. Musa Zondi, Co-chair of the eThekwini Presidential Working Group Mike Mabuyakhulu, Trade and Investment KZN CEO Sihle Ngcamu, and Durban Chamber of Commerce CEO Palesa Phiri.
Beachwood Coastal Estate forms part of eThekwini’s R217 billion portfolio of catalytic projects scheduled for rollout over the next five years.
Designed with sustainability at its core, the estate will offer eco-conscious living through freehold stands, luxurious drive-up apartments, and opulent duplexes.
Currently, the site contributes around R3.6 million per year in municipal rates, but upon completion, this is expected to rise to about R100 million annually.
The development is projected to create 1 500 temporary jobs during construction and sustain 2 500 permanent positions once operational, a significant boost for the local economy.
IOL News