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City to Unlock Multibillion Rand Development

Date: 2021-10-04 05:15:12

City to Unlock Multibillion Rand Development



For immediate release
22 September 2020
City to Unlock Multibillion Rand Development

EThekwini is open for business! This will be confirmed at a historic signing of a Memorandum of Agreement with Main Street 57 to incentivise the Brickworks Development in the Avoca Development Node, north of Durban. The node measures approximately 350 hectares in extent, and has the potential capital investment of R10bn. The development is being facilitated by the Catalytic Projects Unit due to its strategic location and the scale of anticipated socio-economic benefits as a result.

As part of the city’s strategy to create a conducive environment for investment, it offers a substantial rates rebate to investors and developers. This forms part of City’s Economic Development Incentive Policy (EDIP) that aids investment in our city that contributes to job creation.

The EDIP aims to position eThekwini as a preferred investment destination and focuses on supporting new investments based on their potential and future contribution to economic growth, spatial regeneration and job creation within the municipal area, in accordance with the strategic objectives of the Municipality.

In order to incentivise the Brickworks development and realize the anticipated socio-economic benefits resulting from the development, including the increased rates income for the City once the development is undertaken, a rates rebate is proposed for five years for each of the three phases of the full Brickworks development.

The media are invited to attend the signing of the memorandum of agreement that will detail the rates rebate and other terms and conditions of this exciting new development in the city.

Details of the ceremony are as follows:

Date: Wednesday, 23 September 2020
Venue: 20 Toncoro Road, Avoca, Durban
Time: 10h00 – 12h00
Streaming link | Brickworks Ceremonial Signing

RSVP: Sohana Singh on 083 0390207 or email
Issued by the eThekwini Municipality’s Acting Head of Communications Mandla Nsele. Contact eThekwini Municipality’s Spokesperson Msawakhe Mayisela on 031 311 4820/18