Financing to the tune of 235 million N$ has been secured by the Swakopmund Waterfront Holding Company to start with the development project at Vineta Point and the ground-breaking ceremony is to be held in mid-March. According to the company’s press release plots to the value of 156 million N$ were sold already, most of them during the Christmas season. However the company did not furnish any detail how it secured the rest of the funds. The prestigious project includes luxury dwellings, a yacht harbour, a four star hotel, restaurants, a promenade and a public square. The Swakopmund project will be the second seaside waterfront in Namibia after Lüderitzbucht. The first inland waterfront will be constructed at Katima Mulilo on the Zambezi River. Plans have reached an advanced stage. The feasibility study for the KM waterfront and the first architectural plans will be handed over to finance minister Nangolo Mbumba today, Friday.