Foschini Group (TFG), apparel, jeweler and home ware retailer is set to construct a 22 000m2 distribution warehouse in Midrand, Gauteng. This project will be carried out by Equites Property fund an Industrial property developer and will cost US$10.55m.
The development is expected to have an estimated capital value of US $13.17m, and will be located in the Lords View Industrial Park.
According to CEO of Equites Andrea Taverna-Turisan, the firm undertaking the project, this project was of great significance to the company since it was its first venture into the Gauteng market. Equites is a specialist in industrial property management and development.
Taverna-Turisan further noted that the project contract is of great significance given that The Foschini Group is among the successful retailing companies in Gauteng. She noted that the project will later have a 15000m2 extension to meet TFG’s future growth requirements.
TFG’s Property Head Brad Rothenburg noted that improved sales by the company is what led to the move to increase warehouse capacity in Gauteng.
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