The eThekwini Municipality’s initiative to attract private capital to Durban’s beachfront has reached a major milestone, securing over R70 million in private investment for the major redevelopment of 137 Lower Marine Parade on the Golden Mile. Total private-sector investment is expected to approach R100 million once full tenant fit-outs are completed.
Key Details of the Redevelopment Plan
- Preferred Developer: The eThekwini Municipality awarded the project to Imvusa (Pty) Ltd as part of its Proactive Land Release Strategy aimed at spurring beachfront economic growth.
- Commercial Expansion: The usable commercial footprint at 137 Lower Marine Parade will expand by 135%,
- Confirmed Hospitality Brands: Leases are already finalized for several major food, beverage, and hospitality operators, including:
- Steers, Debonairs Pizza, Fishaways, Wimpy, and Milky Lane
- Nonna’s Riviera and Perere by Gushima
