Julius Baumann
4 September 2008
Johannesburg — PLANS by Dubai-based Ruwaad Holdings for a $5bn African theme park centred on a controversial King Shaka statue on the KwaZulu-Natal north coast are well advanced, with the group pencilling in 2014 for the completion of the first phase of the project.
On June 4, Ruwaad presented a draft plan to the KwaZulu-Natal provincial government outlining the proposed development of the theme park and mixed-use complex on a 16,5ha site north of the T ugela River. The group said yesterday it was working on a range of regulatory, public participation and environmental processes necessary for the project to go ahead.
The developers are also believed to be considering plans for about 20 hotels, a university, a hospital and about 120000 residential units. The theme park is expected to attract about 1-million visitors a year and will cater predominately for the domestic market.
The group plans to give the development a cultural and historical focus with King Shaka's statue the central point . The statue will cost R200m to build and is expected, at 106m, to be 13m higher than the Statue of Liberty in New York.
"Having consulted Premier S'bu Ndebele and members of his provincial government, we believe there is a compelling case for this project. Our rationale is based on the relocation of Durban's international airport to La Mercy, the excellent year-round climate, and the ability to engage in a public-private partnership to accelerate the development process," said Darrell Metzger, CEO of Ruwaad Destinations.
"We are involved in the next stage of advancing the project, which includes a comprehensive range of regulatory, public participation and environmental processes."
The group has set up an office in Umhlanga and has hired consultants to assist in the planning and early development stages of the project.
The project is expected to be rolled out in five phases, with the first phase likely to be completed by 2014 at a cost of $2bn.
Established in 2006, Ruwaad Holdings is a wholly owned subsidiary of the Dubai 9 Group, a United Arab Emirates-based investment company with holdings in more than a dozen countries across four continents.
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