Name of the Project
Park Square development project.

Location
The project is located in the fast-growing Umhlanga Parkside node adjacent to CJ Saunders Park and opposite the Gateway Theatre of Shopping Centre in Umhlanga, KwaZulu-Natal, South Africa.

Client
Nedbank.

Project Description
The project involves the construction of a new mixed-use office and retail development.

The project will have a 4-star Green Star Design and As-Built rating and will serve as one of Nedbank Group’s flagship campuses in KwaZulu-Natal.

Once completed, Park Square will offer 40 000 m² of gross lettable area (GLA) of which 4 000 m² will be for retail usage. The remaining 36 000 m² will be commercial space, 18 000 m² of which will be A-grade offices.

The office component of Park Square spans five blocks along the perimeter of the development site, while the retail space is located at ground level surrounding a public piazza. Two levels of basement parking and on-grade parking will complete the development.

Adding to the aesthetic appeal is a 16-m-wide public arcade at pedestrian level, which links the piazza to the adjacent CJ Saunders Park and provides direct access to the public road on the north-eastern side of the development.

About 50% of the office component will be occupied by Nedbank.

Jobs to be Created
Nedbank estimates that a labour force of about 600 employees will be employed during the construction of the buildings, while permanent employment opportunities will result from post-construction management and maintenance of the facilities.

Value
R1-billion.

Duration
Development of the prestigious Park Square has started, with occupation scheduled for the fourth quarter of 2018.

Latest Developments
None stated.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Nedbank group communications, Joanne Isaacs, tel +27 11 295 8045 or email joannei@nedbank.co.za.