Settlement Reached Over R35 Billion Durban's Point Waterfront Upgrade

A R35bn project to further upgrade Durban's Point Waterfront - which had stalled because watersports clubs in the area refused to vacate their premises - can begin in earnest after all parties signed a settlement agreement on Thursday.

The agreement provides for the future accommodation of all four clubs: the Durban Undersea Club, the Durban Ski Boat Club, the Point Yacht Club and the Durban Paddle-ski Club.

It brings to an end costly, and what was expected to be lengthy, high court litigation between the clubs and the Durban Point Development Company.

READ MORE: http://www.fin24.com/Economy/settlement-reached-over-r35bn-durbans-point...