Thrive Student Living launches major R800 million student accommodation development in Durban

Durban — Thrive Student Living will ease KwaZulu-Natal’s student accommodation woes with 2 400 new beds in a major R800 million Growthpoint development in Durban.

This is Thrive Student Living’s largest student accommodation development to date.

Representing a significant R800 million investment, the new purpose-built student accommodation development commenced immediately adjacent to the main gate of the Howard College Campus of the University of KwaZulu-Natal (UKZN) in Berea, Durban.

Handled by Growthpoint Properties’ specialist development division, the project will add 2 400 student beds in the region, which research shows has the largest shortage of student beds in South Africa.

Growthpoint’s KwaZulu-Natal regional development manager Kobus Blom said: “Proprietary research commissioned by our team revealed that KZN remains undersupplied with student beds.”

“The province has significant demand, and most students live in environments that are not conducive to student outcomes.”

In response, Growthpoint started the two-year development programme for the new building set to welcome its first students in January 2027 under the Thrive Student Living banner.

The new development was celebrated with a sod-turning ceremony, attended by eThekwini Municipality mayor Councillor Cyril Xaba, eThekwini Chief Financial Officer Dr Sandile Mnguni, representatives of Thrive Student Living and the Growthpoint development team and its partners.

This massive investment puts into action Growthpoint’s commitment made at the recent KwaZulu-Natal Investment Conference for R800 million of investment in the province over two years, which it is executing through this development for Thrive Student Living.

Growthpoint Student Accommodation Holdings (operating under the Thrive Student Living brand) fund manager Amogelang Mocumi expressed the company’s commitment.

“By prioritising student accommodation that supports better education outcomes, we are not only enriching lives but supporting employment and fuelling a more competitive economy. This investment highlights the transformative power of strong partnerships and underscores what is possible through collaborative efforts.

“To grow these achievements, we need a unified approach across all levels of government, together with private sector investment to support economic growth. Together, we can build a brighter future for young people and our nation,” Mocumi said.

Growthpoint develops purpose-built student accommodation located and designed around students to help them succeed and make the most of their university experience.

Mayor Xaba described the project as a major milestone that will transform student life in the city.

He also applauded Growthpoint Properties, Thrive Student Living and the UKZN for collaborating with the municipality to plan this project.

“This is indeed a major step forward for us in our effort to attract investment in the city. A few years ago, the municipality proclaimed this area as a student accommodation precinct, and this is the first development of its kind in this precinct and the biggest student accommodation investment in eThekwini,” Xaba said.

He said the development has the potential to not only turn around our economic fortunes but also to transform the city’s skyline.

“We trust that this development will entice more student accommodation investors in this precinct.

“What makes the project even more exciting to us and the residents of eThekwini is that once it is completed in two years, the city will be able to derive rates income from it. This is a welcome boost to our coffers and will enable us to continue creating a conducive environment for business to thrive in eThekwini because we invest some of this money in improving our infrastructure,” Xaba said.

Xaba also explained that such projects give hope for eThekwini’s future and demonstrate that the government and the private sector are working together to improve the living conditions of our people.

“We want to indicate that this investment has come to our shores because we have demonstrated beyond reasonable doubt that Durban is truly open for business and investment. This speaks volumes about the sterling work we are doing to facilitate the ease of doing business in the city and elevate Durban as a premier investment destination,” Xaba said.

Piling commenced at the eThekwini site in the first week of October in preparation for the main building contractor, which moved onto the site on Monday to begin construction.

In line with Thrive Student Living’s ethos of fashioning vibrant campus communities, each unique in its architecture and design to reflect and foster its specific community, it has shaped a beautiful contemporary design for the new 12-storey building incorporating the red face-brick, an architectural signature in the Berea area.

The design also includes amenities Thrive Student Living accommodation offers, like study areas and games rooms, gyms and IT rooms, and backup power and water.

It has also been designed to include a small element of ground-floor retail tailored towards daily convenience, which will serve building residents, other students and the immediate community.

The development will also benefit from Growthpoint’s recognised green building leadership, creating healthy, sustainable environments and operating with a social consciousness that adds value to communities.

Growthpoint’s developments boost job and economic opportunities, besides having long-term positive socioeconomic impacts of education support.

While this is its first purpose-built student accommodation project in KZN, Growthpoint has a proud track record of leading purpose-built student accommodation developments in the university cities of Johannesburg, Pretoria and Cape Town.

It was recently named the winner of the SAPOA Property Development Award for Innovative Excellence in Student Accommodation for its development of Thrive @ Horizon Heights, also for Thrive Student Living, at the bustling heart of Johannesburg’s student community. Thrive @ Horizon Heights opened for the 2024 academic year and was well let, proving popular with those from the nearby University of Johannesburg and the University of the Witwatersrand.

The Growthpoint development team is currently completing two new properties for Thrive Student Living for the 2025 academic year: Thrive @ Crescent Studios, a R300m 900-bed property located in Braamfontein, and Thrive @ Arteria Parktown, a R200m 500-bed located in Parktown, both ideally positioned for Wits University students.

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