Growthpoint Properties is deepening its exposure to KwaZulu-Natal’s logistics market, breaking ground on Tecoma Park, a 36,830m² multi-tenanted development in the fast-growing Cornubia Town economic hub.
The move signals continued confidence in the province’s property fundamentals and reinforces the group’s focus on logistics as a long-term growth driver, particularly in coastal regions where port access, transport infrastructure and tenant demand continue to underpin performance.
Industrial property is set to remain the strongest commercial segment this year due to supply logistics demand, online retail growth and supply-chain optimisation, FNB’s commercial property market analysis shows.
The R392m investment forms part of Growthpoint’s strategy to tilt its South African portfolio towards sectors and regions showing strong and durable demand. KwaZulu-Natal remains a core market for the JSE-listed group, which holds assets in the province valued at R8.6bn, spanning logistics, office, retail and healthcare.
“KwaZulu-Natal continues to deliver exceptionally high occupancy levels and sustained tenant demand, which supports our confidence to keep deploying capital in the province in line with the group’s strategy,” said Growthpoint SA CEO Estienne de Klerk.
The development is scheduled for completion in 2027 and will be located next to Cornubia Mall, about 12km from King Shaka International Airport and 21km from Durban Harbour, close to direct access to major transport routes and surrounding industrial precincts. It will include eight flexible units, ranging from 2,790m² to 5,264m².
According to Growthpoint’s head of asset management for logistics and industrial property, Jason Reeves, demand for modern, high-specification logistics space in KwaZulu-Natal continues to outstrip supply. “Tecoma Park responds directly to this demand and is expected to become a flagship industrial asset within the portfolio,” he said.
Beyond logistics, Growthpoint is also expanding into purpose-built student accommodation in the province. The group is developing its first student residence in KwaZulu-Natal — the R800m Thrive Student Living project near the University of KwaZulu-Natal’s Howard College campus in Durban.
The development will deliver 2,400-2,500 beds, addressing a critical shortage of student housing in the region.
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