A catalytic project concept was presented to members of the Economic Development and Planning Committee today, 9 March 2016, regarding the proposed Durban Iconic Tower.
No final decision has been made regarding the development and it is still in the proposal phase. A consultation process with affected communities and stakeholders is expected to begin next week and will continue over a number of weeks and months before the proposal is ultimately tabled at the Executive Committee.
The proposal was made by the Durban Tower Development Company, a private company specifically incorporated for this project.
The aim of the iconic tower would be to create another globally recognised icon for the City of Durban. It would serve as another potential catalyst for future large scale developments within the Durban Inner City.
If approved the building is expected to be 370 metres high, approximately 88 storeys and this would make it the tallest building in Africa and in the Southern Hemisphere.
The proposed location for the site is the heart of Durban’s potential world class sports precinct – the Durban Country Club and NMR sites. Discussions are underway with the Clubs. Given the proximity to the World Championship Golf Course, direct access to the beachfront promenade and being less than 200m from the Moses Mabhida Stadium, the position is extremely favourable.
Both properties are owned by the Municipality and are being leased to the two Clubs on long term arrangements.
The proposed use of the building would be mixed-use consisting of retail, commercial, parking, hotel(s) and residential.
The bulk of the project would be funded by the private sector, with good expressions of interest already in hand.
