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Wednesday Mar 17, 2021

Sibaya breaks the R1billion mark in 1 day

In just one day, Salta Sibaya, Devmco Groups' newest development, achieved over R1 Billion in sales. Launched on 13 March, Salta Sibaya has set out to revolutionize the way we live along KZN's North Coast and the uptake of sales speaks to the fact that Devmco have met the demand for next-level residential opportunities.

"We have officially made close to R1.1 billion in sales today for Salta Sibaya. It is the first time in 6 years that a development in KZN has achieved this at launch. The Sibaya Coastal Precinct is one of the largest place-making endeavour's of it's kind and these record-breaking results are significant for the region and South Africa's economy. With Salta Sibaya, we will now see 300 000 direct and indirect jobs unlocked over the entire construction period of the Sibaya Coastal Precinct as a whole," says Devmco Group Director, Charles Thompson
Economic impact and job creation:
Phase one is R2billion worth of development.
Generally Devmco work on a ratio of about 170 jobs per R100million -  therefore we can expect about 300 000 jobs in phase one.
Retail commercial and maintenance will yield 300 to 400 permanent jobs.
Rates generation which is important for the city particularly after Covid, we are looking at R25 million to R30 million a year, for phase one alone.
Breakdown of the development:
Location is the primary asset of this development
Close to sea
Close to airport
Close to Umhlanga
The lifestyle is favourable with everything on your doorstep.
The facilities
Entertainment areas
Business hub
Family adventure zones
Community leisure centres
Green parks
Outdoor fitness spaces
Onsite shopping centre
Pet friendly
Kids play areas
Pump track


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