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South Africa
Joined April 2009
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Sithembiso Magutshwa retweeted
Ten years ago, Sibaya was a large piece of land on the KZN North Coast with development rights and little else. Today it’s one of the province's busiest construction zones, with developments across all the asset classes.
Tongaat Hulett had the development rights in place. DEVMCO was the first developer to break ground, building 260 apartments that sold for over R800 million in a single day. When Tongaat Hulett hit financial trouble and business rescue, DEVMCO bought the rest of the precinct from them. Then they privatised the roads, power and water.
I sat down with Schalk Theunissen, Managing Director of DEVMCO, the developer that now runs the precinct, to find out how it got here.
The scale is hard to picture until you’ve driven through it:
• Size: 1000 hectares
• +-350 hectares of that is coastal forest
• Commercial space planned: 300,000 to 400,000 m²
• Roughly 12,000 residents once it’s fully built, which Schalk hopes will take no longer than 10 to 15 years
• About 700 hotel rooms planned to open in the next 2-3 years
• Amenities: restaurants, indoor/outdoor play areas for kids, 8km of cycling & running trails, clubhouses, gyms, padel courts, lawn bowls, four swimming pools
When the airport moved from Durban’s south side to the north coast, businesses followed. A special economic zone around it brought in corporates like Toyota and other big industrial companies, and their people need homes and offices nearby.
Schalk says the last six months have been DEVMCO’s best sales period ever, and they have almost no stock left. Some of that demand is people leaving Cape Town. The money that buys you a 30m² unit there buys you about 60m² here, and he says rental returns are very similar. He’s also seeing foreign buyers come in for the first time. Historically, they’ve all gone to Cape Town.
Capri Village is DEVMCO’s retirement offering inside Sibaya aimed at individuals 55+. They recently launched their final phase with 77 homes. Previous phases 1, 2 and 3 sold out.
You can invest in 2-, 3-, and 4-bedroom units ranging from 111 m2 to 204 m2. An operator provides a dedicated nurse who knocks on doors, checks in on residents, takes blood pressure and sends families a monthly update.
I’m impressed by how much has been built here in a decade. Looking forward to seeing how this precinct continues to develop.
Sithembiso Magutshwa retweeted
This is what Durban🇿🇦 will look like once the ambitious R35 billion Waterfront megaproject is fully implemented. It will transform the Durban coastline into a global luxury tourism, residential & commercial hub.
Partnership & Scope:
It is driven by DPDC, a public-private partnership between the eThekwini Municipality & Malaysian property developer UEM Sunrise. Key Features:
• Hospitality & Landmarks. A towering 6-star luxury hotel, a signature oceanfront Ferris wheel, & high-rise residential skyscrapers.
• Marina & Cruise Infrastructure.
• Commercial, Cultural, & Public Spaces. High-end retail malls, modern office towers & academic facilities.
Timeline & Progress:
• Completed Milestones. Early infrastructure upgrades, watermain replacements, the beachfront promenade extension, & passenger cruise terminal are done. Phase 2 construction is scheduled to kick off soon.
Sithembiso Magutshwa retweeted
Taraji P. Henson asked for $500,000 to play Brad Pitt's mother. She got $150,000 and says about $30,000 of it was left. The movie made $335 million.
In the video below, Gayle King asks if she's quitting acting. Taraji covers her face and cries before she can say a word. Then she does the math out loud.
In 2008 she was third on the call sheet for The Curious Case of Benjamin Button, behind Pitt and Cate Blanchett. Her 2016 memoir says she'd been promised "somewhere in the mid six figures." At a 2023 SAG-AFTRA event she said she asked for $500,000 and was first offered $100,000.
It came up to $150,000 with a condition. She had to cover three months of New Orleans hotel bills herself. "Insult, meet injury," she wrote.
On The Real she did the sum. Half the $150,000 went to taxes. Her team took 30% of the full fee, $45,000. That left $30,000, and her son's school tuition that year was $30,000. "Literally, for five months, that's what I made."
The memoir puts her pay at less than 2% of what the studio paid the top name on that call sheet, Pitt.
She got an Oscar nomination for the role. Fifteen years later she said she almost walked away from The Color Purple over pay. That same month she told Gayle King: "Every time I do something and I break another glass ceiling, when it's time to renegotiate, I'm at the bottom again."
The case for the studio: Pitt sold the tickets, and she doesn't dispute his money. "They deserve to earn what they get," she said of Pitt and Blanchett.
Her side: "I too worked my ass off, and at the time I couldn't say no. I didn't have any power."
$335 million at the box office. An Oscar nomination. One year of school fees.
Every day, one star's real paycheck.
Was that Hollywood paying for box office power, or paying a Black woman less because it could?
Sithembiso Magutshwa retweeted
Are DJs still reading the crowd, or are they too busy playing with effects? 🎧🔥
The legendary Boddhi Satva talks about the art of storytelling through music.
Full interview on I BELIEVE with Oskido on YouTube 👇🏾
youtu.be/zgksemeM9_I
Sithembiso Magutshwa retweeted
Songezo is right. ActionSA and Rise Mzansi are politically far apart
Sithembiso Magutshwa retweeted
Da Cruz Hints at More Chiefs Signings After Mokwana Arrival
Fernando Da Cruz has made it clear that Elias Mokwana will not be the last signing at Naturena, and he has told the club exactly what is missing.
Amakhosi announced the signing of the 27-year-old Bafana international this week. At the press conference ahead of Sunday's Carling Black Label Knockout quarterfinal against Siwelele FC, Da Cruz was asked if more players would arrive in January.
"We still have time because we have two months of competition before January," he said.
The coach said the club will only sign players who add value, and he pointed to a clear weakness.
"The club don't want to recruit just to recruit. If we recruit it is to add value to the club," he said. "We know in some positions we have a lack of experience and we need experienced players to help our talented young players and support them every day in training and during the games."
Mokwana joined as a free agent without a proper pre-season, after reaching a mutual agreement to terminate his contract with Tunisian giants Espérance. Da Cruz confirmed he will not play at the Peter Mokaba Stadium on Sunday.
"Mokwana is a very good player, an experienced player who has been in the Bafana team. So he has a lot of quality. We know the beginning of the season has been a bit tough (for him). But we have a FIFA break (after the Siwelele game). So during the FIFA break we will have time to work with him and after the FIFA break it will be time to integrate him step by step," added Da Cruz.
Chiefs beat Siwelele 3-2 in the league, but Da Cruz does not want his players to rely on it. That game was played under different coaches.
Siwelele sacked Lehlohonolo Seema and assistant Willem Jackson on 7 September after the loss to Chiefs, and caretaker Godfrey Motsoetsa has had mixed results.
"We have asked the players to forget the PSL (Premiership) game against them, because these are two different competitions and they have a new coach. There will be a different starting eleven so we must just forget that game, and just be focused on the way we want to play in this game."
Sithembiso Magutshwa retweeted
Europe is finished. The “colony” that could save them is South Africa. The Minister of Transport is putting Transnet under a lot of pressure, dismantling our network industries and handing rail and ports over to foreigners, all these under the guise of “Structural Reforms.
Sithembiso Magutshwa retweeted
Your problem is that you are an idiot trying to sound smart with nonsense. There's nothing wrong with advance payments at Eskom they do it all the time, in that same fin year they paid over R18bln in advance pmts but your trash media only told you about R659 mln to Guptas
Sithembiso Magutshwa retweeted
Eskom give Mines money to buy coal from them its called "CostPlus Agreement". Been done for 70yrs, 3 Majority White Mines: Anglo, Exxaro and South32 got R75bn in 5yrs under Zuma while Eskom saved R3.4bn buying from Guptas (Tegeta) at R150/ton. You are an illiterate Journalist.
Sithembiso Magutshwa retweeted
SACP general secretary Solly Mapaila says the party asserted independence due to abuse it endured at the hands of the ANC.
Watch: tinyurl.com/5ataw2k9