Name of the Project
Park Square mixed-use office and retail development.
Location
Umhlanga, KwaZulu-Natal, South Africa.
Client
Nedport Development, a subsidiary of Nedbank.
Project Description
Park Square will serve as one of Nedbank’s flagship campuses in KwaZulu-Natal.
The development will offer 40 000 m2 of gross lettable area, of which 4 000 m2 will be for retail use, while the remaining 36 000 m2 will be commercial space, 18 000 m2 of which will be A-grade offices.
The office component will span five blocks along the perimeter of the development site, while the retail space will be located at ground level surrounding a public piazza.
The project includes two levels of basement parking and on-grade parking.
Park Square will be supported by the planned expansion of the bus rapid transport system to Umhlanga.
Potential Job Creation
Nedbank estimates that about 600 people will be employed during the construction of the buildings, while permanent employment opportunities will result from postconstruction management and maintenance of the facilities.
Value
R1-billion.
Duration
Occupation of the development is scheduled for the final quarter of 2018.
Latest Developments
The basement structure is nearing completion.
Key Contracts and Suppliers
Arup (engineering services).
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Nedbank, tel +27 31 364 1000.