Hold the gold

Gold bulls may need to curb their excitement.
Gucci vs Guess

Designer firms slug it out in court battle.

All data is delayed

Where am I? Home

Dubai firm plans KZN theme park

Oct 06 2008 19:07

Easter sends Disney on a detour

Top Stories

Mantashe: We don't need the West

May 23 2012 09:47

Western investors must realise SA does not need their money as it can now turn to fellow Brics members for funding, says ANC secretary general Gwede Mantashe.

E-toll case goes to ConCourt

May 23 2012 08:10

Several parties, including government, have launched a Constitutional Court appeal against an interdict temporarily halting the e-toll project, Outa says.

Facebook, banks sued over pre-IPO calls

May 23 2012 18:03

Facebook and banks are being sued by Facebook's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its initial public offering.

Dubai - A Dubai-based real estate company said on Monday it plans to build a multi-billion-dollar themed entertainment development in South Africa, the largest of its kind on the African continent.

"Amazulu World" will be "a multi-billion-dollar themed entertainment and mixed-use destination development on the north coast of Durban," the firm Ruwaad said on the first day of an international real estate exhibition.

"The project will be a master-planned, uniquely African destination development covering approximately 16 500 hectares (40 750 acres) of land, and will be the biggest and most comprehensive development of its kind anywhere on the African continent," it said.

Key elements will include "Africa's first world-class internationally branded entertainment theme park," Africa's largest shopping destination, a sports village, a dedicated education and health village, as well as hotels and resorts.

South Africa's hosting of the 2010 football World Cup, its heavy investment in infrastructure and the recent surge of foreign investments in tourism projects "will support this development in becoming the destination choice of Africa," said Ruwaad CEO Hayan Merchant.

The development will be built in phases over 25 years, the company said.

Property developers in Dubai on Monday shrugged off the global financial turmoil to announce mega projects at the opening of Cityscape 2008, an annual four-day real estate exhibition.

One government firm said it planned to build a "new city" in the booming Gulf emirate at a projected cost of $95bn.

Developers based in Dubai, which is part of the oil-rich United Arab Emirates, are also involved in major real estate projects overseas.

- Sapa-AFP

Share this page

Comment on this story

0 comments

Comments have been closed for this article.

Most Popular

Facebook's intrinsic value

May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Not working? Click here More videos

Sasha

"The way that I read it is simple, more regulation often leads to higher costs, and whilst law makers think that their intentions are well founded, it is generally the customer, in this case the patient that suffers." Jozi, Jozi. 26 o 12' 16" S, 28 o 2' 44" E . Call it a relief... Read their blog...