Durban - Investment in Durban's infrastructure could top R20 billion over the next three years as long-term developments are realised.
Mike Sutcliffe, the city manager for the eThekwini municipality, said yesterday that in the next three to five years between R15 billion and R20 billion could be spent on developments in the city, driven by a combination of local government initiatives and private sector development.
Factors driving the regeneration of the city were that the private sector was moving into a growth mode and international investors were expressing interest, which was spurring local interest.
New developments in the central business district include the International Convention Centre's sports arena and hotels.
Developments in the Durban metropole have taken off in the past three years after many perceived delays. The most recent development to near completion is uShaka Marine World.
It will be the fifth-biggest marine park in the world and will stock strategically important marine species. Its construction in the previously rundown area known as the Point has rekindled interest there, resulting in entrepreneurs renovating surrounding residential areas.
Part of the development is a canal, which was first filled with seawater on Wednesday.
Obed Mlaba, Durban's mayor and chairman of the Durban Marine Theme Park, said: "The canal forms the central spine for the urban redevelopment of the Durban Point and creates enormous economic benefits of the water frontage along the entire 700m length of the first phase of the R10 million canal."
Land adjoining the canal has already been sold for R60 million, and development of the area is expected to exceed R400 million.