The eThekwini Municipality has welcomed a R250 million investment in a new commercial office development at Sibaya Coastal City, saying the project is expected to support economic growth, employment and municipal revenue.
Devmco Group, the master developer of the Sibaya region, officially launched HQ Sibaya on Tuesday. The development will provide 7,000 square metres of premium office space along Heleza Boulevard.
Development Expected to Generate R500 Million in Economic Output
The project is projected to generate approximately R500 million in total economic output, based on National Treasury’s economic multiplier.
It is also expected to add an estimated R8 million annually to the municipality’s rates base.
During construction, the development is forecast to create around 750 temporary jobs. Once operational, it is expected to provide 20 permanent positions.
Devmco Group said 75% of the available office space has already been sold, with full occupancy expected within the first year after completion.
eThekwini Highlights Investment and Employment Opportunities
City Manager Musa Mbhele said HQ Sibaya reflects the municipality’s efforts to encourage private-sector investment and expand sustainable economic opportunities.
He said the development would attract businesses, create employment, increase municipal revenue and strengthen the competitiveness of the regional economy.
Mbhele added that partnerships with private companies were helping the city develop mixed-use urban areas that support investment, innovation and long-term economic growth.
Devmco Says Project Marks Start of Commercial Hub
Devmco Group Managing Director Schalk Theunissen described HQ Sibaya as an important step in establishing Sibaya as an integrated coastal city.
He said the office development would introduce the commercial component of the wider project and create more opportunities for people to live and work within the same coastal area.
Theunissen said the development of residential, commercial, retail and lifestyle facilities would contribute to the group’s broader plan for Sibaya.
Construction Timeline and Completion Date
Work on the building’s upper structure is expected to begin after the completion of earthworks.
HQ Sibaya is scheduled to be completed in the fourth quarter of 2027.
Municipality Reaffirms Commitment to Private-Sector Partnerships
The eThekwini Municipality said it would continue working with private-sector partners to attract investment, increase economic activity and support job creation.
The investment forms part of the municipality’s wider ambition to become Africa‘s most caring and liveable city by 2030.
