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The proposed R980 million Durban Amusement Park has secured project development funding approval from a development finance institution, moving eThekwini Municipality\u2019s planned beachfront attraction closer to construction, although the full financing structure remains undisclosed.<\/p>\n
The project, planned for the former Durban Funworld site on the Golden Mile, has completed its design phase, with technical planning under way. Statutory development work is expected to continue until the end of the first quarter of 2027, before construction proceeds.<\/p>\n
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The municipality has not disclosed the identity of the development finance institution or the amount of funding approved. It is also unclear how the total project cost will be financed or whether construction funding has been secured.<\/p>\n
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According to the municipality, the institution has completed its assessment of the project and approved funding for development work, including statutory processes and detailed technical planning.<\/p>\n
The project has also been selected by the National Department of Tourism through its 2026 call for projects and included among key tourism infrastructure developments. It was showcased at the South African Tourism Investment Summit.<\/p>\n
The planned attraction will feature rides, an extended reality and digital zone, retail facilities, and an upgraded amphitheatre. The combination of indoor and outdoor attractions is intended to support year-round trading, including during wet weather and in the evenings.<\/p>\n
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The municipality expects the development to create about 1 400 jobs across construction and operations, with local small businesses included in its supply chain.<\/p>\n
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The business case rests partly on increasing spending by visitors to Durban\u2019s beachfront, which attracts more than 17 million promenade visits annually. The park is intended to encourage visitors to spend more time and money at surrounding hotels, restaurants, and other tourism businesses.<\/p>\n
The development forms part of more than R2 billion in investment already spent or committed to Durban\u2019s beachfront. The municipality will continue overseeing the statutory and approval processes before construction can proceed.<\/p>\n
Phenyo Selinda is a Moneyweb intern.*<\/p>\n
#Durbans #R980m #amusement #park #secures #development #funding #approval<\/p>\n","protected":false},"excerpt":{"rendered":"
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