Durban’s plan to replace the former Funworld amusement park with a R980 million ($59.8 million) beachfront attraction has cleared a funding milestone, bringing a major tourism development on South Africa’s Golden Mile closer to construction.

The project has secured development funding approval from an unnamed development finance institution, which has completed its assessment of the proposal. However, the approval covers development work, and the municipality has yet to disclose the funding amount or explain how the full construction bill will be financed.

The stakes extend beyond a new amusement park. Durban’s beachfront attracts more than 17 million promenade visits annually, and the municipality wants to turn that foot traffic into greater spending at hotels, restaurants, shops and other tourism businesses. The project also forms part of more than R2 billion($122.2 billion) in investment already spent or committed to the beachfront.

Construction funding remains unclear

The funding approval will support statutory processes and detailed technical planning, following the completion of the park’s design phase. The municipality expects statutory development work to continue until the end of the first quarter of 2027, before construction proceeds.

The identity of the development finance institution, the value of its approved funding and the arrangements for financing the entire R980 million ($59.8 million) project remain undisclosed. The approval therefore represents progress towards construction, rather than confirmation that the full project budget is secured.

The development has also received national tourism-sector recognition. The National Department of Tourism selected the project through its 2026 call for projects, placing it among key tourism infrastructure developments. It was subsequently showcased at the South African Tourism Investment Summit.

Indoor attractions target year-round visitors

Planned facilities include amusement rides, an extended reality and digital entertainment zone, retail outlets and an upgraded amphitheatre. The mix of indoor and outdoor attractions is designed to keep visitors coming during wet weather and into the evening, extending the park’s potential trading hours.

That approach could help tourism businesses around the Golden Mile capture more spending from visitors who might otherwise use the promenade without spending much at nearby commercial establishments.

The municipality expects the development to create approximately 1,400 jobs across construction and operations. Local small businesses are also expected to participate in the project’s supply chain, potentially extending its economic benefits beyond the attraction itself.

Part of Durban’s wider beachfront investment

The amusement park is planned for the former Durban Funworld site, a prominent location along the city’s beachfront. Its redevelopment forms part of a broader municipal effort to strengthen Durban’s tourism infrastructure and commercial activity along the Golden Mile.

The municipality will continue managing statutory requirements and outstanding approvals before construction can proceed. The timing of the building phase will depend on progress through those processes and the resolution of the project’s remaining financing questions.