LAURUSCO DEVELOPMENTS

Laurusco Developments, a privately owned property development company, was formed in May 2005. Its joint shareholders at the time were Neels Brink and Mzi Khumalo, with Neels Brink appointed as Managing Director. The company was established to implement large scale property development projects throughout South Africa, and manage Durban's Point Waterfront Development, and operate across all sectors of the property market.

In May 2008, in the midst of a resources boom, Mzi Khumalo sold his shareholding to focus on his mining interests. The company soon thereafter entered into a partnership venture with a subsidiary of listed global paper and forestry group Mondi, and two local businessmen Moses Tembe and Themba Ngcobo, to develop tracts of land currently under timber plantations owned by Mondi. The development vehicle is known as Arctic Sun, and Laurusco Developments acts as the Development Manager for the entity, as well as being a shareholder therein.

The company has been able to unlock substantial development nodes across KZN. These developments encompass a variety of land uses and a common feature is their accessibility, and visibility to, major arterial roads in the Province, notably the N2 and N3 National Freeways.