President congratulates Mid-KZN South Coast’s Renishaw Hills for its investment potential
Renishaw Hills, the thriving secure lifestyle development situated on the outskirts of Scottburgh on the mid-South Coast of KZN, has been recognised by President Cyril Ramaphosa for its substantial investment contribution to the region.
The estate was among the ‘Infrastructure, property development and logistics’ initiatives announced as positively contributing towards the country’s investment potential at the 5th SA Investment Conference (SAIC) at the Sandton Convention Centre in April.
To date, R500m has been spent on this 25-hectare Renishaw Hills – out of an anticipated R1 billion. And this is just the start, as Renishaw Hills is the first development located in the 1 300-hectare, mixed-use Renishaw Coastal Precinct which will account for a total spend of around R15 billion upon completion.
A first of its kind in the area, and arguably one of the country’s biggest development projects right now, the self-sustaining Renishaw Coastal Precinct will consist of five interconnected nodes, bringing massive socio-economic benefits to local communities - and to the country. The entire precinct is expected to bring around 2 500 residential options to the Mid-KZN South Coast, accommodating roughly 7 500 people, and creating thousands of job opportunities along the way.
Having been congratulated on stage by President Ramaphosa, MD of Renishaw Coastal Precinct, Barto van der Merwe, said they were honoured to receive acknowledgement at this level:
“Renishaw Hills is a glowing example of what can be achieved by Renishaw Coastal Precinct, which is one of the most exciting developments in the country right now, especially considering the scale of the development. We believe this will finally unlock the economic potential of the mid-KZN South Coast. The investment value of this precinct is immense, but we are equally excited about the incredible boost the region will enjoy through job opportunities, improved infrastructure, and increased property value.”
Renishaw Hills, which is the first development located in Node 1 of the precinct, has already grown to accommodate more than 300 residents with R400 million in sales since it was established in 2016. Buyers have enjoyed an escalation in home value of 50% over the past five years, with the coastal lifestyle, ocean and forest views, access to conservation areas, and great facilities driving demand.
This development, alongside the precinct’s long-term vision, aligns with the government’s national goals of socio-economic development to create sustainable jobs, reduce poverty, and drive back inequality. Because of the immense investor value, Renishaw Hills was announced as one of the pledges towards the ‘Infrastructure, property development and logistics sector.
The success story behind Renishaw Hills
Renishaw Hills and Renishaw Coastal Precinct fall under the Crookes Brothers Limited (CBL) portfolio. Looking back, Van der Merwe explained what prompted the initial investment: “CBL recognised the incredible development opportunity that existed on the farm which literally surrounds the town of Scottburgh. Renishaw Hills was then formed in line with the purpose of catalysing the KZN mid-South Coast’s economic awakening by bringing our vision for a safe and thriving oasis to life. The aim is to positively influence and uplift the area as a whole, contributing to its ongoing social and economic sustainability.”
He said the values for Renishaw Coastal Precinct encompass ‘visionary thinking’, ‘committed partnerships’, and ‘responsible custodianship’.
“We’re forward-looking, optimistic, and unafraid to think big when it comes to our plans for awakening the KZN mid- South Coast. We have a high benchmark when it comes to the quality of what we want to create, but we’re open and collaborative in bringing it to life with our partners. As property owners and developers, we’re KZN South Coast born and bred, so we’re personally invested in seeing this place succeed. We also take our stewardship of this land seriously, and want to use our influence to create a safe haven for future generations. We never compromise on our commitments to activating our natural assets and supporting the local community.”
The success of Renishaw Hills, and the anticipated success of Renishaw Coastal Precinct, bodes well, not only for the region, but for the country as well. Van der Merwe said there are three important reasons that such infrastructure and development investment is so beneficial.
1. Economic Growth: Investments in infrastructure and development projects have the potential to stimulate economic growth and create jobs. The Renishaw Coastal Precinct, for example, is expected to create thousands of jobs during construction and once the development is complete. This can help to reduce unemployment and increase economic activity in the region.
2. Tourism: The Renishaw Coastal Precinct is expected to become a major tourist destination, attracting visitors from within South Africa and internationally. This can help to boost the tourism industry, which is an important source of revenue for South Africa.
3. Property: The development of the Renishaw Coastal Precinct is expected to increase property values in the surrounding areas. This can provide a boost to the real estate industry and increase property tax revenue for the local government.
“We’re excited that Renishaw Hills, and by extension Renishaw Coastal Precinct, are garnering worthwhile attention,” continued van der Merwe. “There are so many potential investment opportunities just waiting to be explored, and the support of the President is a welcome acknowledgement that we are on track to unlocking the area’s extensive potential.”