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Home Sector Buildings South Africa's US $78m mixed-use office development almost complete

South Africa’s US $78m mixed-use office development almost complete

Cue Park Square, Nedbank’s iconic US$ 78m mixed-use office and retail development located within Umhlanga’s New Town Centre is almost complete.

Bordering the popular CJ Saunders Park and featuring innovative commercial and retail offerings, Park Square with its considered restaurants, shops and coffee bars will offer a connected work culture incorporating a unique leisure offering seamlessly linked to a vibrant and open urban square.

The Four Star Green Star-rated building

The Four Star Green Star-rated building, due for completion in October this year, includes 36000m² of commercial space, 4000m² of retail and an impressive 3500m² open public piazza.

Ken Reynolds, Nedbank Property Finance Divisional Executive, property expert and Director of Nedport Developments, a subsidiary of Nedbank and Park Square’s developers confirmed the reports and said that such projects are effectively turning the South African urban planning paradigm around.

“Projects like Park Square are effectively turning the South African urban planning paradigm around. This innovative and connected space encourages people to think beyond the boardroom, take time to unplug and to connect with one another. By similarly drawing the surrounding communities for shopping and relaxing, the overall effect is a sociable, communal space that emphasizes a convenient and balanced work life experience,” he said.

Also Read: Phase 1 of Loftus Park mixed-use development almost complete

High profile tenants already secured

Park Square has already secured a series of high profile tenants including Nedbank, Spar and the IBV International Vaults. Spar Marketing Manager, Travis Anderson commented and said that customers no longer want to shop in large centres, they want the convenience of parking, walking straight into the building, doing their shop and walking straight out.

Park Square offers mutual benefit for the employer and the employees with its unique commercial and lifestyle aspects.

This world-class destination offers a win-win situation for both, where staffs benefit by working in an open, future-forward environment and companies reap the rewards on their bottom line.

Yvonne Andiva
Editor/ Business Developer at Group Africa Publishing Ltd


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