Multinational waterway developer Crystal Lagoons plans to sign a R1.4-billion deal before the end of the year to build a massive artificial lagoon in northern KwaZulu-Natal, the first of several projects it hopes to develop in South Africa. The company, formed about 10 years ago by Chilean scientist and property developer Fernando Fischmann, specialises in creating lagoons in conjunction with waterfront-style residential complexes. Its global business director, Cristóbal Baixas Mingo, said the growing number of gated communities and resorts in South Africa presented opportunities for the company's inland waterway technology. He would not disclose details of the KwaZulu-Natal project, other than the projected price, but said Crystal Lagoons was also considering two projects in Johannesburg with a combined value of R3-billion. The company was also negotiating deals in Kenya. "These projects are sizable and will be developed in upmarket areas where demand for luxurious facilities like ...
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