One of South Africa’s largest corporate investors, Tsogo Sun, has invested R1.6 billion in the KwaZulu-Natal Golden Mile.
The redevelopment of Suncoast Casino, Hotel and Entertainment signifies a collaborative effort by Durban’s public and private sector towards creating a globally competitive beachfront.
The completely redeveloped Suncoast is now the equivalent of five rugby fields. This is Tsogo’s single largest investment into a property in the history of the group.
The benefits are job creation, tourism and growth in Gross Domestic Product for the region.
It is an investment the Durban Chamber of Commerce & Industry regards as strategic.
The Ethikwini municipality sees the redevelopment as a boost for the city’s economy.
Tsogo says the investment reflects the confidence it has in Durban, and will help to position the beachfront as a place to experience the very best in world-class entertainment. The redevelopment saw the creation of more jobs and opportunities for local talent in the industry.
Tsogo Sun’s interests on the Golden Mile span 3,3 kilometres and represent a total investment of more than R370 million into the refurbishment of the properties in the last five years.
Originally constructed at a cost of R1.4 billion in 2002, Suncoast has an annual footfall of around 6 and a half million entertainment-seekers. Hasina Kathrada