Nedbank Corporate Property Finance continues its support of strategic development nodes in KwaZulu-Natal with the funding of a new R80 million industrial warehouse development at Durban’s Dube Tradeport.
In close proximity to King Shaka International Airport the world class airport centred development that is fast becoming an innovative enabler of strategic investment in South Africa.
The development spans an impressive 15 000sqm of offices, warehousing, loading and interlink, open yard and racking areas. The property has been developed by Hodari Properties (Pty) Ltd, and tenanted by DB Schenker, the world’s second largest transportation and logistics services provider. DB Schenker’s transportation and logistics arm is set to take occupation by December 2014.
Dube Tradeport, KwaZulu-Natal’s single biggest infrastructure project, promotes international connectivity while placing KwaZulu-Natal as a prime destination in global supply chain air logistics planning.
“Facilitating the entry and associated economic invigoration of a global logistics giant into this master-planned passenger and air-freight logistics environment bodes well for further economic development and sustainable employment creation in the region,” says Anand Joseph, Regional Executive: Nedbank Corporate Property Finance in KwaZulu-Natal. “We are proud to be playing an active role in realising this opportunity for our client.”
The new development adds further momentum to warehousing space at Dube Tradeport, the majority of which have been acquired or identified for logistics, freight imports and exports, textiles and cold storage.
“The stimulation of transit-orientated development is providing a much-needed means for global business and trade by providing a platform for the integration of supply chains, acceleration of efficiencies and more agility in doing business on the Continent,” says Donald Borthwick, on behalf of the development company, Hodari Properties (Pty) Ltd.
“Dube Tradeport is one of the most important infrastructural developments in South Africa, greatly enhancing our global competitiveness. The bank’s funding of this project is consistent with our commitment to providing agile support to developments and which contributes to growing the KZN economy.” adds Joseph