The fate of Virginia Airport could well be sealed with the eThekwini Municipality confirming that the prime real estate is destined for housing development.
In a statement issued by the City of Durban on Wednesday, they revealed that they had received an “unsolicited proposal” from Seaworld Investment Holdings to redevelop the site.
“The development will comprise commercial, hotel, upmarket residential, offices, leisure and related developments. Total capital outlay for the project is R6.1-billion.
“The municipality is not required to fund the development and will only offer its services and expertise in the implementation of bulk infrastructure and services,” according to the statement.
In return the city would receive 10% shares in the company which owns the development and benefit from an expanded rates and tax base.
New Scottburgh airport Seaworld Investment Holdings will also endeavour to build an airport five times the size at Scottburgh on the KwaZulu-Natal south coast, according to the statement.
The proposal has been circulated on print media and city’s website for comments and input by members of the public, National Treasury, Provincial Treasury and the Auditor General of South Africa as directed by relevant legislation.
The Virginia Airport had leased the land which expired in 2011, and has since been on tenterhooks regarding the future of the aerodrome.
